Zain Saudia Arabia's losses rise in Q4

Zain Saudia Arabia's losses rise in Q4
Published: 25 January 2014 - 4:40 a.m.
By: CommsMEA staff writer

Zain Saudi Arabia posted a net loss of SR462 million ($123.2 million) in the three months to December 31, according to a report from Reuters. This marked compared with a net loss of SR443 million in the same period in 2012.

Fourth-quarter revenue was SR1.5 billion, compared to SR1.7 billion a year earlier, according to calculations from Reuters.

The telco blamed Saudi Arabia's crackdown on illegal workers and a drop in religious pilgrims visiting the country for falling revenue. Since March, more than 1 million foreigners have left the kingdom, the report stated.

Zain Saudi Arania posted full-year net loss of SR1.65 billion for 2013, compared with a loss of SR1.75 billion a year earlier, the company stated on the Saudi bourse.

 


Click here to add your comment

Please add your comment below
Name
Country
Email
Your email address will not be published
Captcha