Zain Q1 net income up 40 per cent

Zain has reported that its customer base rose by 20 per cent compared to the previous year, to end March at 37.6 million. However, revenues were up by just one per cent at KWD324.4 million (US$1.16 billion), although net profit surged by 40 per cent to KWD69.9 million.

Zain’s consolidated EBITDA reached KWD 147.7 million, up 10 per cent year-on-year, reflecting an EBITDA margin of 46 per cent.

Notable developments in the period included growth in Zain Sudan, which serves 10.65 million customers (up 21 per cent) and attaining a 13 per cent revenue increase in local SDG currency; and the launch of HSPA+ launch in Jordan, which saw 100,000 broadband customers added within a month.