Zain KSA posts Q4 loss of $77m

Revenue rise helps to reduce quarterly loss
Middle East, Telecoms, Zain KSA posts Q4 loss


Zain Saudi Arabia reduced its net loss in the fourth quarter of 2015 to 291 million riyals ($77.5 million) compared with a net loss of 306 million in the same period year earlier, Reuters reported.

The improvement was attributed partly to a 7% rise in revenue and better cost management, the report added, citing a bourse filing posted by the company.

Zain Saudi's overall subscriber base jumped 28% year on year to stand at 12.4 million subscribers as of December 31, 2015, the statement added.

Zain KSA, which is 37%-owned by Zain Group, has yet to make a quarterly profit since its launch in 2008.

Click here to read the full Reuters report



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