Zain Saudi Arabia Shrinks its Quarterly Losses
Published on: 16th Apr 2014
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Zain Saudi Arabia (Zain KSA) has reported a shrinking of its quarterly losses, as the company improved its operating margins.
The company reported narrowing its net loss for the period by 20% year-on-year, to reach SAR 318 million (USD85 million) at the end of the first quarter 2014, also representing a 31% drop in net loss quarter-on-quarter.
The company also succeeded in increasing its EBTIDA margin to 19% up from 12% during the same quarter in the previous year.
The company did not however release revenue or subscriber numbers.
The company did though report a 68% rise data revenues during the first quarter of 2014 as compared to the same period in 2013, and a 23% increase as compared to the fourth quarter of the previous year.
Hassan Kabbani, Chief Executive Officer of Zain KSA, added that the company is currently focused on reinforcing its position in the market by offering the best services available and capturing opportunities in the data arena, which is growing rapidly in the Kingdom.