Manama : Zain Bahrain, a leading telecommunications provider in Bahrain, announced an 8.3 per cent increase in its Q3 2017 results amounting to BD1.3 million (US$3.4m) as the operator’s digitisation efforts continued to enhance operations.
This compares to BD1.2 million (US$3.2m) for the same period last year, a positive result in the face of an increasingly competitive Bahrain telecoms market.
Quarterly revenues of the company meanwhile improved by 3.6pc, from BD16.9 (US$44.7m) to BD17.5m (US$46.3m).
The company’s EBITDA was relatively stable standing at BD5.6m (US$14.8m).
For the first nine months of 2017, the company reported a 12pc spike in revenues, strongly driven by data, from BD48.8m (US$129.1m) to BD54.5m
(US$144.2m).
Zain Bahrain’s net profit for the nine-month period was down by 6.6pc from BD3m (US$8m) to BD2.8m (US$7.4m).
Despite this, the company’s year to date EBITDA was BD16.7m (US$44.2m) with a healthy EBITDA margin that stood at 30.1pc.
Commenting on the results, Zain Bahrain Chairman, Shaikh Ahmed bin Ali Al Khalifa said: “Our utilization of the full capabilities of our network, our continued investment in creating a digital lifestyle for our customer base, and our efforts to digitize processes internally have resulted in greater efficiencies, with revenues rising and expenditures simultaneously reducing. These efforts are helping the company to maintain a healthy balance sheet despite intense competition and a highly-saturated market with an over 150pc penetration rate.”
Looking ahead, Shaikh Ahmed said that Zain remains “on track towards another profitable year, maintaining the momentum gained during 2016.”
“We also look forward to a strong 2017 and a further expansion of our market offerings,” he added.
Source: http://www.newsofbahrain.com/viewNews.php?ppId=38930&TYPE=Posts&pid=21&MNU=2&SUB=50