Zain Bahrain posts $3.7m net profit; revenues hit $84m

27/07/2017 08:17 AST

Zain Bahrain, a leading telecommunications provider in Bahrain, today reported that its year-on-year revenues for the first half of 2017 surged 16.4 per cent, from BD31.8 million ($84.1 million) to BD37 million ($97.8 million).

The company posted a net profit of BD1.4 million ($3.7 million) for the six months up to June 30, 2017, down 22 per cent from BD1.8 million ($4.7 million) for the same period a year earlier.

The company's EBITDA decreased by 8 per cent during the first half of the year, from BD12.2 million ($32.4 million) in 2016 to BD11.2 million ($29.7 million) during the same period this year.

Quarter-on-quarter, the operator posted revenues of BD18.7 million ($49.4 million) for Q2 2017, a 19 per cent jump compared to the BD15.7 million ($41.5 million) reported during the same period last year.

The quarterly net profit increased by 2.3 per cent to BD948,000 ($2.5 million) during Q2 2017, compared to BD926,000 ($2.4 million) in Q2 2016. The EBITDA decreased by 8 per cent from BD6.1 million ($16.1 million) in Q2 2016 to BD5.6 million ($14.8 million) in Q2 this year. Despite the reduction in EBITDA, Zain Bahrain continues to maintain a healthy EBITDA margin of almost 30 per cent, the company said.

Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa said: "Over the past 12 months, Zain Bahrain's focus was on introducing the most competitive and innovative products to the market, taking advantage of the capacity of our network, which is Bahrain's most technically advanced. This year we signed new partnerships and solidified old ones, allowing us to offer customers an exciting array of first-to-market products."

Shaikh Ahmed continued: "We expect competition to continue to be intense for the remainder of the year, but we are confident our strategy of focusing on customer experience, one of our key differentiators, will support our impressive position in the market."

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