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
SABIC 82 10,783,841
SIPCHEM 14.2 640,122
RIBL 11.05 528,496
GFH 0.24
ALMARAI 55 114,628
QNBK 138.4 177,998
EEC 29 511,812
Recent News

SABIC highlights innovation with details
The SABIC Sustainability Report 2015, entitled Enabling Tomorrow’s Solutions, released today, features the company’s sustainability achievements throughout the world and highlights how SABIC is setti

Service excellence ‘key to Islamic finance growth’
Excellence in customer experience while embracing the true spirit of Sharia and human resource development are key differentiators that will sustain the growth momentum of the Islamic finance industr

Nass offers technical support for clients
Nass Commercial, a division of Nass Corporation and the authorised distributor of Massey Ferguson (MF) Power Series generators held a regional technical seminar for its clients and contractors at Dip

Retired workers to invest OMR4m in small businesses in Oman
Retired employees from defence service, who recently received entrepreneurial training from SME Development Fund and Ministry of Defence, plan to collectively invest OMR4 million for developing small

Truck Oman subsidiary to build integrated logistics centre in Duqm
An integrated logistics centre will be developed by Truck Oman Projects and Oilfield Services Company, a group company of Truck Oman.

The Special Economic Zone Authority Duqm (Sezad) and T

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?