Zain Bahrain Reports the First Half of 2015 Results
Zain Bahrain (Ticker: ZAINBH), the most innovative operator in the Kingdom, announced its financial results for the first half of 2015 ending 30 June 2015; reporting a healthy increase in EBITDA amounting to BD 13.995 million (US$ 37.023 million) compared to BD 13.434 (US$ 35.540 million) for the same period in 2014, an increase by 4.1%. Zain Bahrain generated net profit totaling BD2.074 million (US$ 5.486 million) for the first half of the year compared to BD 2.224 million (US$ 5.883 million) in 2014 reflecting a 6.7% decrease while representing a quarter-on-quarter increase of 2.5% (i.e. from 1.024 million to 1.050 million). The company recorded revenues of BD 35.122 million (US$92.914 million), a decrease by 3.8% from the same period in 2014 which were at BD 36.536 million (US$96.656 million).
As result of the continuous investment in its nationwide 4G LTE network, Zain Bahrain's home broadband segment continued to grow significantly by 24.5% only in the second quarter of 2015.
In operational terms, Zain Bahrain witnessed growth in its customer base in the second quarter of 2015 of 4%, compared to the same period in the previous year, to serve 801,000 active customers as of 30 June, 2015.
Commenting on the company's financial results, Zain Bahrain Chairman, Sheikh Ahmed Bin Ali Al Khalifa said: "During the second quarter of 2015, the management of Zain Bahrain focused on further strengthening its consumer and corporate service offering. The efforts resulted in an encouraging set of financial and operational results."
"We remain committed to our ongoing investment in Zain Bahrain's nationwide 4G LTE network which we believe will benefit the Company through increased revenue, earnings and improved cash flow by executing our strategic plan and pursuing opportunities that will increase shareholder value," he added.
Key operational and commercial notes for the Q2 2015
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