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FINANCIAL NEWS
Zain’s net profits go down by 14 percent in Q2
30 Jul 2013
(MENAFN) Kuwaiti Zain’s profit went down in the 3 months ending in June 30 by 14 percent. The telecom company’s net profits went from USD248.8 million in Q2 2012 down to USD214 million, Times of Oman reported.
During the first half of 2013 Zain’s profits dived from USD 497.9 million to USD 396.5 million; a 20.3 percent decrease in net profits.
The telecom giant cited these losses to currency fluctuations in Sudan, saying that this cost the company USD347 million in revenue and USD80 million in net profits.
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