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Article: Zain Saudi Arabia revenues reach US$135 million with 7% mobile market share since launch.(Financial report)
- Article from:
- Africa Telecom
- Article date:
- February 1, 2009
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The Middle East's largest operator by market share has reported its financial results since launching on 26 August 2008 through to 31 December 2008 (120 days of operation), according to Middle East Company News. Zain Saudi Arabia announced revenues of 505,196 million Saudi riyals, gross profit of 16 million riyals and net loss for the period of 2,278 billion riyals. The operator reported 2.01 million mobile customers, equivalent to a 7% market share, one of the fastest rates of market share take-up in any Middle Eastern country when entering as a competitor. Dr Saad Al Barrak, Zain Group's chief executive, said, "With the robustness of the Saudi Arabian economy playing a ...