Zain KSA posts 13% rise in revenues


21/02/2012 08:34 AST

Zain KSA has announced its financial results for the year ended Dec. 31, 2011 and revealed plans for its largest network expansion to date, in addition to significant infrastructure enhancement in 2012.

Operator of Saudi Arabia's most up-to-date network, Zain KSA said it is preparing to expand its LTE (Long Term Evolution) network in all major cities, in order to further promote this technology across the majority of the country. Expansion plans will also include further expansion of the company's fiber optic network project, which is set to significantly cut operating costs for leased lines. These combined activities will further help extend Zain KSA's coverage footprint in the Kingdom.

The announcement of these plans follows the improved financial performance for Zain KSA in the past year, where tangible increases were recorded across all key financial indices.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 172 percent compared to SR899 million in 2010.

Total earnings for the year increased by 26 percent to SR3.20 billion, compared to total earnings of SR2.53 billion recorded for the year before. Revenues increased by 13 percent from SR5.93 billion in 2010 to SR6.70 billion in 2011.

Zain KSA's new operational strategy has helped the company cut operational losses significantly, down 30 percent to SR811 million (2010: SR1.16 billion).

Commenting on the Company's financial results and upcoming plans, Prince Hussam bin Saud bin Abdul Aziz, chairman of Zain KSA, said: "As Zain KSA shifts its focus and intensifies efforts in order to reach new horizons and higher ambitions, these strategies come in time to help us shape the next phase in a way that will boost the company's strategic position and competitive edge in KSA's mobile telecom market."

Arab News
Saudi Mobile Telecommunications Co. - ZAIN.TASI
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
NBAD 10.7 60,767
TIRECO 44.1 222,543
SAVOLA 66.99 842,784
SAGRINSURANCE 28.44 273,230
SABIC 96.21 3,089,615
RIBL 16.66 965,390
MAZAYA 114 213,843
Recent News

UAE non-oil business growth hits 22-month low
Business activity growth in the United Arab Emirates' non-oil private sector slowed to a 22-month low in June, partly because of the start of the Muslim holy month of Ramadan, a corporate survey show

Mideast construction disputes value hits $77m
The total value of disputes relating to major construction projects in the Middle East increased significantly to $76.7 million in 2014 compared to the previous year, Arcadis, the global natural and

Oil price flux unlikely to hit long-term sector growth
The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were

Saudi non-oil business activity hits record low
Growth in Saudi Arabia's non-oil private sector slowed in June, a survey of businesses showed on Sunday, reaching its lowest level since the survey was launched in August 2009.

The seasona

Saudi PMI Drops to Six-Year Low in June as Growth Momentum Slows
An indicator of growth in Saudi Arabia’s non-oil industries fell in June to the lowest level in six years as the biggest Arab economy loses momentum.

The Emirates NBD Purchasing Managers’ In

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?