Zain Bahrain Q1 revenues increase 14pc

Manama : Zain Bahrain a telecommunications provider in Bahrain, posted a net profit of BD503,000 (US$1.3 million) for the three-month period ending 31 March 2017, down 45 per cent on the BD917,000 (US$2.4m) reported  a year earlier. 

Total revenues for the quarter stand at BD18.3m (US$48.5m), up 14pc year-on-year from BD16.1m (US$42.7m) in Q1, 2016. Zain Bahrain’s customer base stood at 845,000 at the end of Q1 2017, up 5pc from 807,000 a year earlier.

Zain Bahrain Chairman, Shaikh Ahmed bin Ali Al Khalifa said: “2016 was an exceptional year, with heavy investment in innovative new technologies and services that will enable Zain Bahrain to deliver an unsurpassed digital lifestyle to our customers. This has meant a decrease in net profits even as overall revenues have risen during this quarter.”

The first quarter of 2017 saw the launch of the 21st Zain Experience Shop in the Kingdom, at Wadi Al Sail Mall in Riffa. The group also signed a number of key agreements to provide enhanced digital lifestyle products to customers. Zain Group and iflix, the world’s leading Internet TV service for emerging markets, established a joint venture, ‘iflix Arabia’, to bring iflix’s world class service to the Middle East and North Africa (MENA). The commercial launch of iflix Arabia across the MENA region is planned for Q2, 2017. 

Zain Group has also inked an agreement with YOYO, one of Turkey’s most innovative digital startups, to bring an exciting new car sharing concept to Bahrain. The app allows users to book vehicles of their choice, unlock them via their smartphones or membership cards, and return them to designated locations after use. The service will be piloted in Bahrain in Q2 2017 before being rolled out across the MENA region.