Zain KSA posts Q4 loss of $77m

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

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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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