Manama, Bahrain – 4 November 2019: Zain Bahrain, a leading telecommunications provider in the Kingdom, reported net profit of BD3.815 million (US$10.09 million) for the nine months ending September 30, 2019, representing a 3.5% increase year-on-year (Y-o-Y) from BD3.685 million (US$9.75 million). Operating profit for the period came in at BD4.644 million (US$12.29 million), up 27.1% Y-o-Y from BD3.655 million (US$9.67 million) despite a 7% decline in revenue to BD45.789 million (US$121.13 million) from BD49.203 million (US$130.17 million) in the first nine months of the year.
The company's strong operating profit is driven by continued operational efficiencies and cost saving programs, steered by the company's solid positioning in data services, which accounts for more than 48% of total revenues.
During the three month period to end-September specifically (Q3 2019), Zain Bahrain reported net profit of BD1.282 million (US$3.39 million), down 5% Y-o-Y from BD1.353 million (US$3.58 million). Operating profit in Q3 2019 increased 15.6% Y-o-Y to BD1.538 million (US$4.07 million) from BD1.331 million (US$3.52 million).
Revenue in Q3 2019, in comparison to the same period in 2018, saw a 6% drop to BD15.242 million (US$40.32 million) Y-o-Y from BD16.194 million (US$42.84 million).
Earnings per share remain consistent Y-o-Y, at 10 fils for the nine month-period ending September 30, 2019, and 4 fils for the three month period ending September 30.
At the balance sheet level, Zain Bahrain's total equity at the end of the nine month period ending September 30, 2019, stood at BD70.807 million (US$187.32 million), up from BD70.213 million (US$185.75 million) in 31 December 2018. The company's assets for the nine-month period ending 30 September 2019 amounted to BD116.064 million (US$307.05 million), up 22% Y-o-Y from BD94.803 million (US$250.8 million) in 31 December 2018.
Commenting on the latest operational results, Zain Bahrain Chairman, His Excellency Shaikh Ahmed bin Ali Al Khalifa, said, "We are pleased with the company's positive performance for the first nine months of 2019. This is a direct result of our ongoing commitment to delivering innovative solutions and services to our customers in line with the needs of our increasingly connected society, driven by consumer preferences and the digitization ambitions of the Kingdom's leadership."
He added, "We are consistent in our pursuit of excellence in our operations and in terms of customer experience. We continue to adopt the latest technologies that will enable us to deliver an ever-higher level of service to our customers and modernize our operations."
Key achievements at Zain Bahrain in Q3 2019
© 2019 Copyright Zain. All Rights Reserved.