Thursday 6 August 2020

Shaikh Ahmed, chairman of Zain Bahrain

Zain Bahrain 2019 net profit up 2pc to $13.8m

MANAMA, February 10, 2020

Zain Bahrain, a leading telecom provider in the Kingdom, has reported a net profit of BD5.269 million ($13.88 million) during 2019, representing a 2 per cent increase year-on-year (Y-o-Y) from BD5.174 million.

Operating profit for the period amounted to BD6.338 million, up 24 per cent Y-o-Y from BD5.112 million, despite a 5 per cent Y-o-Y decline in revenue that reached BD62.895 million from BD66.198 million in previous year. Earnings per share stood at 14 fils.

The company reported net profit of BD1.454 million ($3.83 million) for the three months ending December 31, 2019 (Q4 2019), representing a 2 per cent decrease year-on-year from BD1.489 million.

Operating profit in Q4 2019 amounted to BD1.697 million, up 16 per cent Y-o-Y from BD1.457 million, despite a 2 per cent Y-o-Y decline in revenue that reachedBD17.106 million from BD17.505. Earnings per share remained steady at 4 fils Y-o-Y.

The company’s strong operating profit is driven by continued efficiencies and cost saving programs, steered by the Zain Bahrain’s solid positioning in data services, which accounts for over47 per cent of total revenues.

Shaikh Ahmed bin Ali Al Khalifa, chairman of Zain Bahrain, said: “The exceptional financial performance reflects our commitment to innovation and the delivery of services that meet the evolving needs of Bahrain’s connected society. Zain believes in developing solutions and services based on the preferences of our customers, and which align with the vision of the Kingdom’s leadership to drive digitization throughout the country.

“Entering 2020, we will continue working closely with the Zain Group team to maintain our pursuit of operational excellence and remain committed to delivering an exceptional customer experience. This will be achieved through the adoption of the latest technologies and the development of more customized solutions.” – TradeArabia News Service


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