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FINANCIAL NEWS
Zain Kuwait signs USD407m H1 net profits
17 Jul 2014
(MENAFN) Zain group, a leading mobile telecommunication company across the Middle East and Africa, announces its consolidated financial results for the six months ended 30 June, 2014, Kuna reported.
Zain Group added 2.1 million new active customers over the past twelve months to serve 46.5 million as of 30 June 2014, reflecting a 5 percent growth rate. Zain is the market leader in six of its eight operations by customer numbers, the group said in a release.
For the second quarter of 2014, Zain Group generated consolidated revenues of USD2.23 billion, up 3 percent annually.The company’s consolidated EBITDA for the period reached USD943 million, signing an increase of 1 percent year on year. EBITDA margin stood at a healthy 42.3 percent at the end of the period.
Consolidated Net Income increased by 3 percent to reach USD407 million, when compared to the same period in 2013. Earnings per share for the period stood at USD0.10.
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