Thursday 1 October 2020

Shaikh Ahmed bin Ali Al Khalifa

Zain Bahrain posts $3.86m Q4 profit

MANAMA, March 30, 2020

Zain Bahrain, a leading telecommunications provider in the kingdom, has reported net profit of BD1.454 million ($3.86 million) for the three months ending December 31, 2019 (Q4 2019), representing a 2% decrease year-on-year (from BD1.489 million). 
Operating profit in Q4 2019 amounted to BD1.697 million, up 16% Y-o-Y from BD1.457 million, despite a 2% Y-o-Y decline in revenue that reached BD17.106 million from BD17.505. Earnings per share remained steady at 4 fils Y-o-Y, the company said.
For the 12-month period ending December 31, 2019, Zain Bahrain reported a net profit of BD5.269 million representing a 2% increase year-on-year (Y-o-Y) from BD5.174 million. Operating profit for the period amounted to BD6.338 million, up 24% Y-o-Y from BD5.112 million, despite a 5% 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’s strong operating profit is driven by continued efficiencies and cost saving programmes, steered by the Zain Bahrain’s solid positioning in data services, which accounts for over 47% of total revenues. 
At the balance sheet level, Zain Bahrain's total equity at the end of 2019 stood at BD72.261 million, up from BD70.213 million in 2018 by 3%. The value of the company’s assets at the end of 2019 amounted to BD118,739 million, up 25% Y-o-Y from BD94.803 million in 31 December 2018. 
Zain Bahrain’s Board of Directors is recommending distributing annual dividends to shareholders representing 6% of the company’s paid up capital, equivalent to 6 fils per share. 
Commenting on the impressive 2019 operational results, Zain Bahrain Chairman Shaikh Ahmed bin Ali Al Khalifa 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.” 
Shaikh Ahmed continued: “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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