Zain Group profit plunges 39 per cent in 2009

On March 31, Zain Group announced that for the 12 months of 2009, the mobile operator recorded consolidated revenues of KWD 2.318 billion (US$ 8.056 billion), an increase of 15.7 per cent year-on-year. The company’s consolidated EBITDA increased by 24 per cent for the same period to reach KWD 926 million. Consolidated net income reached KWD 195 million, a decrease of 39 per cent.

Year-on-year customer growth in the Middle East and Africa across which Zain operates was 14 per cent, with the cellco reporting the service of 72.5 million managed active customers as of December 31, 2009. Zain Group added over 9 million new active customers over the past twelve months.