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Zain FY net income declines to USD 902 mln
2013-02-15 09:31:00| Telecompaper Headlines
(Telecompaper) Middle East mobile operator Zain announced that its net income for 2012 declined to USD 902 million from USD 1.033 billion in 2011. Revenues fell to USD 4.58 billion from USD 4.79 billion, and EBITDA amounted to USD 2.04 billion, giving an EBITDA margin of 44.5 percent. The board recommended a cash dividend of USD 0.18 per share. Zain's consolidated customer base grew by 6 percent over the year to 42.714 million active customers, good for 2.451 million new lines in the past twelve months. Group chairman Asaad Al Banwan said 2012 had been a challenging year, and Zain's results suffered from exchange rate effects of around USD 109 million. He said Zain continued to adhere to its policy of reducing administrative, operational and finance costs during 2012.
Zain Q4 profit plunges 32% of forex losses
2013-02-14 01:00:00| Total Telecom industry news
Kuwait-based mobile operator says 2012 was a challenging year.
Tags: profit
losses
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plunges