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
SAGRINSURANCE 18.8 74,895
TAWUNIYA 78 29,688
SABIC 79 1,355,879
RIBL 14.4 77,320
STC 59.5 37,436
SPIMACO 34.7 34,086
EMAAR 6.52 8,716,712
Recent News

TSX Ends Lower As China Continues To Weigh
Canadian stocks plunged to end lower for second straight session on Tuesday, as the China factor continued to trouble global markets with some disappointing manufacturing data, interlaced with some d

ITHMR -Leadership grooming for bank staff
Three senior Bahraini Ithmaar Bank employees joined their peers from other Islamic banks across the kingdom to attend an intensive leadership grooming programme.

The course has been desig

BCCI delegation seeks to boost Jordan trade ties
A high-level delegation from the Bahrain Chamber of Commerce and Industry (BCCI), led by first vice-chairman Othman Alrayes, is participating in the Gulf-Jordanian Economic Forum.

Being he

Qatar Development Bank hosts ITC’s 15th World Export Development Forum
Under the patronage of H.E. Sheikh Abdullah Bin Nasser Bin Khalifa Al Thani, Prime Minister of the State of Qatar, Qatar Development Bank announced it will be hosting the International Trade Centre’s

UAE-Poland trade exchange up 35.8 per cent in 2014
Trade exchange between the United Arab Emirates and Poland surged by 35.8 per cent in 2014 as the two countries continue to enhance economic cooperation in various domains. According to latest data

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?