Zain Saudi Arabia announced a stronger performance in the last quarter ended 30 September 2015, reporting its highest third quarter revenues since launching mobile services in the Kingdom in August 2008. The operator's revenues grew by 15% year on year, to reach 1,785 million riyals compared with 1,553 million riyals during the same period a year ago.
The operator recorded a narrower third-quarter loss with a net loss of 223 million riyals compared to a net loss of 316 million riyals a year earlier.
The company's overall subscriber base increased by 26% at the end of Q3, reaching 11.8 million compared to 9.4 million subscribers at the end of Q3 2014. Of this, 2.8 million new customers joined Zain to enjoy the quality and speed of the 4G LTE network. The company also experienced strong growth in its digitally connected customers base, which increased by 79% compared to same quarter of last year.
Hassan Kabbani, Chief Executive Officer of Zain KSA
These are the highest Q3 results that the Company has achieved since its inception. I am pleased to see the continued excellent performance of the Company. These results show the positive outcome of the transformation plan implemented at the Company.
