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Zain Q3 revenues stable, EBITDA up 6 percent
2015-10-26 08:48:00| Telecompaper Headlines
(Telecompaper) Zain Group recorded third-quarter revenues stable at KWD 292 million (USD 968 million), while EBITDA rose 6 percent to KWD 131 million. Net income decreased by 18 percent to KWD 38 million or KWD 0.010 per share. The Middle East mobile operator served 45.6 million customers as of 30 September, a 4 percent increase compared to the same period in 2014. Chairman Asaad Al Banwan said the board is working closely with the executive management team to prudently deal with the rise in competition and other currency and social challenges in several key markets. In the year to date, the company's results were impacted by the stronger US dollar, increased amortisation for new spectrum licences as well as higher taxes and social unrest in Iraq. He said the group remains focused on further strengthening its presence while at the same time investing in network upgrades across the territories.
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Category:Telecommunications