Zain Bahrain Q2 net profit up 3%

TDT | Manama                                                

The Daily Tribune – www.newsofbahrain.com

Zain Bahrain, a leading telecommunications provider in Bahrain, yesterday announced financial results for its second quarter, reporting a profit, which the company attributed to its “value-oriented business strategy.”

Q2 results The company reported a net profit of BD1.278 million in Q2 2022, reflecting a 3% increase year-on-year from a net profit of BD1.245 m for the same period in 2021. Earnings per shaare remained at 3 fils. Revenues amounted to BD16.386 m, up by 1% from BD16.220 m in Q2 2021.

Operating profit amounted to BD1.469 m, a slight decrease by 1% from BD1.490 m in second-quarter 2021. Year-to-date For the six months ending June 30, 2022 year-to-date (YTD), Zain Bahrain reported net profit of BD2.852 m, representing a 3% increase Y-o-Y from BD2.773 m for the same period in 2021.

Earnings per share remained at 8fils for the six months in 2022 compared to the same period recorded in 2021. Revenues was BD33.586 m, an increase of 3% Y-o-Y as compared to BD32.728 m for the same period in 2021.

Operating profit stood at BD3.219 m compared to BD3.221 m for the same period recorded in 2021. The company's strong performance during the first half and second quarter of 2022 is driven by Zain Bahrain's value-oriented business strategy.

Zain Bahrain said it continues to expand its network footprint and upgrade its network to better serve its customers with resilient and future-proof technology. “This has also been recognized by TRA Quality of Mobile Services Report 2021 where Zain achieved the best results nationwide for mobile network speeds for social media.”

Zain Bahrain Chairman, Shaikh Ahmed bin Ali Al Khalifa, said, "This quarter, we have strengthened Zain Bahrain’s leading position in the Kingdom telecom market through our data growth, investments in 5G network infrastructure and our superior customer experience.”

"We are in a strong position to continue successfully implementing our cutting-edge digitization strategy and progress in key growth areas including 5G broadband services, innovative solutions, and initiatives to exceed the expectations of our customers. Zain Bahrain also continues to explore new opportunities to further contribute to the success of the telecom industry in Bahrain.