DUBAI: Zain Bahrain has reported that its first-half revenues rose 16.4 percent to 37 million Bahraini dinars (SR369 million) from 31.8 million dinars from a year ago.
The company’s net profit for the six months to June meanwhile fell 22 percent to 1.4 million dinars from 1.8 million dinars during the same period of 2016.
“Over the past 12 months, Zain Bahrain’s focus was on introducing the most competitive and innovative products to the market, taking advantage of the capacity of our network, which is Bahrain’s most technically advanced. This year we signed new partnerships and solidified old ones, allowing us to offer customers an exciting array of first-to-market products,” Zain Bahrain chairman Sheikh Ahmed bin Ali Al-Khalifa said in a statement.
Quarterly revenues rose 19 percent to 18.7 million dinars during the three months to June, while net profit eased up 2.3 percent to 948,000 dinars from 926,000 dinars of the same period last year.
Earnings before interest, taxes, depreciation and amortization (Ebitda) during the second quarter fell 8 percent to 5.6 million dinars from 6.1 million dinars last year.
“Despite the reduction in EBITDA, Zain Bahrain continues to maintain a healthy EBITDA margin of almost 30 percent,” the company said in the statement.
“We expect competition to continue to be intense for the remainder of the year, but we are confident our strategy of focusing on customer experience, one of our key differentiators, will support our impressive position in the market,” Sheikh Ahmed said.
Zain Bahrain’s first-half revenues up 16.4%
Zain Bahrain’s first-half revenues up 16.4%
