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FINANCIAL NEWS
Kuwait’s Zain reports USD213m profit in Q3
22 Oct 2012
(MENAFN) Kuwaiti telecom operator Zain reported a 15 percent decline in quarterly profits, hurt by a foreign exchange loss, Reuters reported.
The company said it earned USD213 million net profit during the third quarter, while revenues dropped by 5.4 percent to USD1.11 billion.
Chairman Assad Al Banwan said that “extreme currency fluctuations” weighed on its operations during the nine months to September. That cost Zain the equivalent of USD146 million, he added.
The group’s Iraqi unit Zain Iraq plans to push through with a stock market listing in Baghdad by early 2013 at the latest.
Zain’s holding in its Iraq unit will fall to 51 percent from 76 percent if the IPO is fully subscribed.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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