Zain posts Q108 profits of $270.5m
Telecom operator Zain grows profits 10% year-on-year, hits 45.7 million active users
Zain has posted first quarter net profits of KD73.3m ($270.5m), up 10% on the same period last year.
The telecoms operator, which is present in 22 countries in the Middle East and Africa region, also expanded its customer base by 54% year-on-year, to reach 45.7 million active users by the end of March.
Dr. Saad Al-Barrak, managing director and deputy chairman of Zain said: "On the back of excellent results for 2007, we are delighted that Zain continues its strong performance in the first quarter of 2008. We have experienced strong customer growth across all our operations in line with our 2011 targets of being a top ten global operator with over 110 million customers.
"Our impressive financial results underscore our achievements to date and we expect this trend to continue. Zain will build and add to the successes in recent years as we actively pursue expansion opportunities in the Middle East, Africa and beyond," he added.