Zain's net income increases 17% in H1-2011

Zain, Kuwait-based company has posted a consolidated revenue of US$ 2.381 billion for the half year ended 30 June, 2011, with two per cent increase from June 30th, 2010. The period witnessed net income increasing to US$ 506.5 million, an 17% increase on the same period in H1-2010. Zain Group added 5.4 million new active customers over the past twelve months.

Zain Group CEO, Bin Salamah said, “The impressive 16% customer growth (5.4 million new customers) over the past 12 months is a reflection and reward of our extensive investments in network technology upgrades and new appealing product offerings across all our country operations. With a healthy cash balance and reduced debt levels, coupled with an optimal efficiency drive on many levels, the company is well-positioned to continue investing in and grow its profitable operations.”

Zain is operational across the Middle East and it provides mobile voice and data services to over 39.6 million active customers as of 30 June 2011.