Zain Iraq sees 77% Growth in Net Income

By John Lee.

Zain Iraq has posted a growth in net income of 77 percent.

In its results statement for Q1 2019, the company said:

"Zain Iraq performed exceptionally well in Q1 2019 when compared to the corresponding three-month period in 2018, with revenue reaching USD 262 million, and EBITDA having reached USD 109 million, up 13% Y-o-Y and reflecting an EBITDA margin of 42%.

"The operation reported a net profit of USD 14.2 million, up 77% on the USD 8 million profit recorded in Q1 2018.

"The operator added 1.5 million customers (up 10% Y-o-Y) to reach 16 million and witnessed significant growth in data revenue, as well as profitable progress in the enterprise (B2B) segment."

(Source: Zain)

(Picture: Bader al-Kharafi, Vice Chairman and CEO of Zain)

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