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
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
EEC 24.65 727,618
QNBK 151 133,972
RAKBANK 5 513,328
SABIC 96.79 2,615,086
BKMB 0.44 839,774
DHBK 34.5 195,993
ARNB 21.49 1,152,648
Recent News

Despite foreign selling Oman shares remain stable
Despite foreign selling in Bank Muscat and HSBC Bank, the MSM30 Index remained stable at 5,616.75 points, up 0.12 per cent. The MSM Sharia Index finished at 850.72 points, down 0.20 per cent. Bank Ni

Total assets of Islamic banking reached $924b in 2015
Total assets of Islamic banking reached $924b in 2015, with growth rates declining across all regions compared to previous years, according to EY’s ‘Banking in emerging markets’ report. The Gulf coop

Kazakhstan for economic partnership with Qatar
Governor of Astana International Financial Centre in the Republic of Kazakhstan, Dr Kairat Kelimbetov, (pictured) yesterday stressed his country's keenness to establish various partnerships at differ

Doha Bank finances Tornado Tower
Doha Bank, one of the largest commercial banks in Qatar, has completed a financial arrangement with Tornado Co. for re-financing the iconic Tornado Tower in West Bay. This long term transaction is on

GFH to inject cash in stalled Bahrain development
GFH Financial Group (GFH) has completed a debt-restructuring agreement with the developer of a long-delayed US$700 million project in Bahrain.

In a statement to the Dubai stock exchange ye

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

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?