Zain Bahrain reports Q3, nine-month results

TDT | Manama                

The Daily Tribune – www.newsofbahrain.com

Zain Bahrain, a leading telecommunications provider in Bahrain, announced its financial results for the first nine months ending 30 September 2022 including the third quarter (Q3 2022).

Q3 results

Quarterly net profit was BD1.580 million, reflecting a 2% decrease from a net profit of BD1.613 m in the year-ago quarter. Earnings per share remained at 4 fils per share similar over the same period in 2021.

Revenues rose 11% to BD16.966 m from BD15.292 m in the prior-year quarter. Operating profit decreased 1% to BD1.797m from BD1.824 m in the year-earlier quarter.

Nine-month results

Year-over-year net profit was BD4.432 m, an increase of 1% from BD4.387 m in the prior-year period.

Earnings per share remained steady at 12 fils for the nine months in 2022. Revenues rose 5% to BD50.552 m from BD48.020 m for the same period in 2021. Operating profit reached BD5.016 m, a 1% decrease on the BD5.047 m recorded in 2021.

Zain Bahrain Chairman, Shaikh Ahmed bin Ali Al Khalifa said, “This robust performance again proves that our long-term business strategy remains effective as we continue enhancing our network and executing strongly against the market challenges and competition.

We are committed to continuing this growth momentum to enhance our customers’ digital lifestyle aligning with Zain Bahrain’s mission to deliver cutting-edge digital experience and playing our vital role in the Kingdom’s smart vision 2030.

“We have also continued to invest in the Bahraini workforce and provide growth opportunities for the youth at Zain Bahrain. We have maintained a Bahrainization level of 93.3% including 172 talented youth employees, which contributes to developing their career skills and increasing their competitive capabilities in the local and international market.”

Zain Bahrain Chairman concluded, “Zain Bahrain will continue to provide innovative products and solutions, investing in advanced networks to provide the community we serve with timely and future-proof technology. With our strong commitment to digitalization and 5G, we are well positioned to introduce compelling new technologies, creating value for all.”