Global Arab Network | Saudi Arabia: Zain income expected to increase 60% to reach $ 375 million

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Saudi Arabia: Zain income expected to increase 60% to reach $ 375 million

Thursday, 02 September 2010 22:33

Chief Executive of Zain Group Nabeel Bin Salamah said Thursday that Zain Saudi Arabia made about $ 375 million (SR 1.4 billion) profits in the second quarter and that its income is expected to increase 60 percent by the end of 2010 compared to 2009.

The company's clients in Saudi Arabia exceeded seven million, he said in a press release.

He said that the company's performance, when compared with international experiences and the entry of the third operator is great.

The recent recommendation to increase the capital of Saudi Arabia aims to benefit from its success and to fund operation growth plans in the kingdom, he noted.

The company's board had recommended increasing its capital by SR 4.383 billion.

The company's general assembly will soon call for approving the recommendation.

Bin Salamah said that Zain Saudi Arabia was facing great challenges on the operational and commercial activities levels.

However, it was able to provide innovative services and products, he stressed.

The company's networks cover more than 85 percent of inhabited areas in the kingdom, he noted.

Global Arab Network

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