PDA

View Full Version : Zain raises net profits by 8% and recorded $198 million



Hue Mi
04-22-2014, 05:47 PM
Zain raises net profits by 8% and recorded $198 million (http://almustaqbalnews.net/world/item/39438-%D8%B2%D9%8A%D9%86-%D8%AA%D8%B1%D9%81%D8%B9-%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD%D9%87%D8%A7-%D8%A7%D9%84%D8%B5%D8%A7%D9%81%D9%8A%D8%A9-8-%D9%88%D8%AA%D8%B3%D8%AC%D9%84-198-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1.html)

http://almustaqbalnews.net/media/k2/items/cache/742a7368a9169dc0e96f7056b5968b85_L.jpg

Posted in Political news Tuesday, 22 April 2014 15: 05

Zain Iraq operations surpassed themselves and contributed the largest proportion in the Group's financial indicators



1st quarter 2014

First quarter-2013





46.2

44.1

Number of customers (million)



JD

$

JD

$

Currency



Making a Grand

1, 104.1

299.0

1, 059.3

Revenue (million)



132.2

469.0

126.6

448.7

Profit before tax and bonus depreciations (million)



55.9

198.4

52.0

184.2

Consolidated net profit



0.014

0.05

0.013

0.05

Earnings per share




Baghdad: Zain Group announced a leading mobile operator in the Middle East and Africa it made net profits of 55.9 million (198.4 million dollars) for the first quarter of this year, rising 8% from the comparable period last year, and earnings per share 14 Fils.

He said Chairman Asaad Al-Banwan Ahmed group "key financial indicators for the group saw positive gains from this period, and that have achieved growth rates in revenues collected and the size of the profits before deduction of interest, taxation and bonus depreciations and net profit".

Said Zain Group CEO Scott gignhaimr "I have encountered operational processes of the Zain Group, a set of challenges of economic and political factors in some geographical areas, and the specific challenges in the industry of mobile communication of a high competition, working in markets characterized by major deployment of mobile communications services workers, though the positive financial indicators for this period.

And on the operations of Zain Iraq gignhaimr said "our operations in Iraq surpassed itself contributed the largest share in the Group's key financial indicators for the first quarter, the company increased the size of its revenue by 3% to reach approximately $432.3 million compared to $421.6 million for the same period, to contribute to the company with 40% of the combined income of the group, profits before interest and taxes and bonus depreciations by 3% to reach approximately $176.8 million compared to $162.4 million, Net profit amounted to 78.3 million dollars by rising 24% compared with 63.1 million dollars over the same period.

He noted that Zain Iraq has the largest customer base for the Group and is made in the Iraqi market in terms of market share by 49%, with the increase in the customer base grew by 18% to reach 16 million customers, representing 35% of the Group's customer base.

He "has made Ben a good growth rates for Iraq operations through ongoing modernization and development projects on its network, with Internet services on its network increase 69%, to Internet services by 4% of the total income of the company."

And gignhaimr that the Iraqi market of promising markets and wait for the boom in data transmission services, anticipated that with the introduction of 3 g services awaiting final approvals and licensing authorities, the data transfer services will experience the shift, the company relied too much on strategic plans for the next stage.

The insertions are currently Zain Iraq to insert a part of its shares in Iraq market for securities disclosure gignhaimr the company is intensifying its actions now to complete the subscription process-depending on the requirements of the operating licence expected to be the first subtraction operations this year.
Read 22 times