FINANCIAL NEWS

Zain Kuwait’s revenue grows in Q1 at USD125mn

03 May 2017

(MENAFN) Kuwaiti telecom Zain’s revenue increased in the first quarter of this year due to difficulties in some local markets, which posted a net profit of USD125mn.

Accordingly, profit was negatively influenced by both the devaluation of the currency in Sudan and the ongoing conflict in Iraq.

However, Zain’s unit in KSA recorded its first-ever quarterly revenue after years of losses, while the firm has ops in Bahrain, Iraq, Jordan, Lebanon, KSA and Sudan.

Additionally, consolidated revenues in the cited quarter declined to USD810mn, down 11 percent from last year.

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