Zain Saudi KPIs shine in Q410

Zain Saudi Arabia announced significantly higher revenue for the 2010 fourth quarter with an increase of 93 per cent to SR1.73 billion (US$461 million), compared to reported revenue of SR895 million for the fourth quarter of 2009.

Gross profit increased by 132 per cent to SR826 million, compared to SR356 million in the fourth quarter of 2009. Operating losses for the fourth quarter decreased significantly by 58 per cent to SR179 million compared to losses of SR435 million in the fourth quarter of 2009. Net loss for the period saw an improvement of 21 per cent to SR521 million compared to a net loss of SR657 million for the fourth quarter of 2009. 

Zain Saudi’s customer base exceeded eight million at the end of December 2010.

The Zain Saudi also reported it had reached break-even point at the level of profit before interest on its Murabaha loan, taxes and depreciation (EBITDA) for the year ended 2010 ahead of initial expectations.