Mubasher: Zain Bahrain posted a decline of 29% in net profit during the fourth quarter ended 31 December, 2016 as compared to the corresponding period a year ago.
Earnings shrank to BHD 1.2 million ($3.2 million) in Q4-16 from BHD 1.7 million ($4.5 million) in Q4-15, according to a bourse filing issued on Wednesday.
Revenue for Q4-16 reached BHD 15.8 million ($41.8 million) in comparison to BHD 17.5 million ($46.3 million) in the same quarter of 2015.
During the fiscal year of 2016, net profit decreased by 18% to total BHD 4.3 million ($11.3 million) from BHD 5.1 million ($13.5 million) in the previous year.
Revenues amounted to BHD 64.6 million ($170.9 million) in 2016, a 9% change from BHD 71.1 million ($188.1 million) during FY15.
Zain reported a 22% growth in its customer base during 2016, to 971,000 from 795,000.
“The leap in new customers was attributed to innovative products and services rolled out by the operator, which offer a fully integrated futuristic digital lifestyle. Zain Bahrain also benefited from growing awareness of the strong connectivity and speeds of its world class 4G LTE network,” the statement noted.
