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FINANCIAL NEWS
Kuwaiti Zain’s 2011 profit up to USD1.03b
14 Feb 2012
(MENAFN) Kuwait’s Zain said that net profit in 2011 grew to USD1.03 billion, compared with USD1.02 billion in 2010, reported KUNA.
The telecom operator added that the group’s profit was highly affected by the ongoing volatility of exchange rates in some of its main markets.
It also said that in the period, subscriber numbers went up 8 percent to 40.2 million.
Moreover, total shareholders’ equity in 2011 reached USD7.9 billion, bearing in mind that the group distributed profits worth more than USD5 billion over the past two years.
It is worth noting that Zain operates in seven countries, including Saudi, Sudan and Iraq.
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