Zain Saudi Arabia narrows Q1 2014 losses

Zain Saudi Arabia reported a shrinking of its quarterly losses as the company improved its operating margins.

The operator reported narrowing its net loss for the period by 20 per cent year-on-year, to reach SAR318 million (US$85 million) at the end of the first quarter 2014, representing a 31 per cent fall in net loss quarter-on-quarter.

The company also succeeded in increasing its EBTIDA margin to 19 per cent up from 12 per cent during the same quarter in the previous year.

Zain Saudi Arabia reported a 68 per cent surge in data revenues during the first quarter year-on-year, and a 23 per cent increase as compared to the fourth quarter of the previous year.