Sunday 24 February 2019

Shaikh Ahmed bin Ali Al Khalifa

Zain Bahrain reports net profit of $11.4m for 2017

MANAMA, February 6, 2018

Zain Bahrain, a leading telecommunications provider in Bahrain, reported a BD4.306 million ($11.4 million) net profit for the full year 2017, up 1.2 per cent from BD4.254 million ($11.3 million) a year earlier. 
This positive performance was driven by a 23 per cent surge in annual data revenues, resulting in revenue growth of 13 per cent year-on-year, in addition to further developments in operational efficiency, the company said. 
The company reported a revenue of BD73.012 million ($193.2 million) for the year, up from BD64.647 million ($171 million) in 2016. 
Data growth was fuelled by a continued expansion in data-centric products and digital offerings, important components of Zain Bahrain’s growth strategy. The company’s EBITDA reached BD22 million ($58.2 million) in 2017 compared to BD24.8 million ($65.6 million) a year earlier, while its EBITDA margin stood at 30 per cent for the year.
For the fourth quarter of 2017, Zain Bahrain reported a net profit of BD1.507 million ($4 million), a 24.8 per cent increase on the BD1.207 million ($3.2 million) recorded a year earlier, with Q4 revenues growing by 16.8 per cent to BD18.485 million ($49 million), up from BD15.824 million ($41.8 million) in 2016. 
Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa said: “Future growth in the telecoms sector will be driven by data and digital services, and Zain Bahrain is poised to capture this market through a differentiated, best-in-class digital customer experience. The focus remains on customer empowerment, convenience, and autonomy. We continue to prioritize this strategy by expanding our range of innovative digital products and services, enhancing our mobile app and online customer portals, and building partnerships with third-party content and service providers that can add value to the customer experience.”
Shaikh Ahmed continued: “Zain Bahrain remains profitable and growing despite a challenging market. Our positive annual and quarterly results in such a difficult environment are a demonstration of the competence of our growth strategy. In 2018 we expect to build on the momentum gained last year through a further expansion of Zain Bahrain’s digital offerings.” – TradeArabia News Service

Tags: Telecom | data | Zain bahrain |

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