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Mon 23 Oct 2017 06:53 PM

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Zain Bahrain posts rise in Q3 net profit, revenues

Telecom operator hails positive result in face of growing competition in Bahrain market

Zain Bahrain posts rise in Q3 net profit, revenues
(Getty Images)

Zain Bahrain on Monday announced an 8.3 percent increase in its third quarter net profit, amounting to BD1.3 million ($3.4 million) as the operator’s digitisation efforts continued to enhance operations.

The company said in a statement that it is a positive result in the face of an increasingly competitive Bahrain telecoms market.

Quarterly revenues improved by 3.6 percent to BD17.5 million, it added.

For the first nine months of 2017, the company reported a 12 percent spike in revenues, strongly driven by data while net profit was down by 6.6 percent.

Zain Bahrain chairman, Sheikh Ahmed bin Ali Al Khalifa, said: “Our utilisation of the full capabilities of our network, our continued investment in creating a digital lifestyle for our customer base, and our efforts to digitise processes internally have resulted in greater efficiencies, with revenues rising and expenditures simultaneously reducing.

"These efforts are helping the company to maintain a healthy balance sheet despite intense competition and a highly-saturated market with an over 150 percent penetration rate.

"We remain on track towards another profitable year, maintaining the momentum gained during 2016. We also look forward to a strong 2017 and a further expansion of our market offerings.”

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