Zain revenues up 10%, net income soars 488% in the first half of 2010

Aug. 10, 2010 - PRLog -- Zain, the leading mobile operator in Kuwait with foot prints in many other countries, announced today its financial results for the half-year, ending 30 June, 2010. During the first half of 2010, Zain Group recorded consolidated revenues of KWD 672.6 million (US$ 2.33 billion), an increase of 10% compared to the same period last year. Mr Asaad Al Banwan, Chairman of the Board of Directors of Zain, said that he is very pleased with this 10% revenue increase especially with the challenging global economic conditions and the competitive markets in which Zain operates. On the other hand, net Income soars 488% to reach KWD 895.3 million (US$3.085 billion). This includes the capital gain from the sale of Zain Africa assets on June 8, 2010.

The subscriber base totaled 34, 2 million at the end of June, an increase of 28% compared to the same period last year.

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