Zain Grows in Tough Year

Pan-Africa and Middle East mobile operator Zain said its consolidated revenues grew almost 16% in 2009 to 2.32 billion Kuwaiti dinars (8.06 billion US dollars), as its customer base rose 14% to 72.5 million

Chairman of Zain Group, Mr Asaad Al Banwan said: “The 15.7% increase in consolidated revenues, 24% EBITDA and 33% EBIT increases reflect the efficient operational performance of Group’s mobile operations, despite the global financial crisis. The 2009 fiscal year was the toughest in the company’s history with the biggest challenge coming from the sharp volatility in several currencies, which effectively cost the group US$ 133 million." source: Zain statement