Zain Iraq Revenues up 14%

By John Lee.

Zain Iraq's revenues for the first half of 2019 were up 14 percent on the same period last year.

In its results for first six months of 2019, the company said:

"Zain Iraq performed exceptionally well in H1 2019 when compared to H1 2018 with revenue reaching USD 522 million and EBITDA reached USD 220 million, up 14% reflecting an EBITDA margin of 42%.

"The operation reported a Net Income of USD 25 million for H1 2019, up 39% on the USD 18 million profit recorded for H1 2018.

"The operator added 600,000 customers (up 4% Y-o-Y) to reach 15.3 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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