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FinancialNews
18-07-22
Zain KSA’s stocks increases 4.3 percent
(MENAFN) Stocks of Zain KSA, officially known as Mobile Telecommunication Co. Saudi Arabia, ended 4.3 percent up on Sunday in reply to news that its profit over doubled to SR214 million (USD57 million) in the first 6 months of this year.
In line with a filing to the Saudi Exchange, the telecom operator’s income rose 157 percent from SR83 million (nearly 22.1 million) in the same span of time in 2021 on the back of increased profit.
Its income jumped from SR3.8 billion (nearly USD1 billion) to SR4.4 billion (nearly USD1.17 billion) motivated by the expansion in the business-to-business, fifth generation as well as additional income streams along with a post-pandemic reappearance of worldwide visitors.
Speaking to Argaam, chief executive Sultan Al-Deghaither also stated that the numbers were pushed by growing request from administration agencies, institutions, as well as firms in the Kingdom for the portfolio of business area outputs and support services.
Sultan Al-Deghaither pointed out that "Through global strategic partnerships, we were able to transfer the 5G experience in the Kingdom to a new level, and we sought to complete our partnerships by providing digital infrastructure that enables obtaining the best results.”
MENAFN18072022000045014228ID1104545462
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