Zain KSA continues to achieve net profits for the 4th year eliminating most of the accumulated losses

SourceEye of Riyadh
CountrySaudi Arabia

Zain KSA has revealed its fiscal results for 2020 which showcases a steady achievement of net profits for the 4th consecutive year. In Q4 of 2020, the company secured SAR 2,061 million in total revenues compared to SAR 1,928 million for Q3 2020, with a growth rate of 6.90%. These results are a testament to the success of Zain KSA’s operational strategy and its attainment of a balanced financial approach that comes in line with a comprehensive capital restructuring, in addition to continually implementing our operational strategy based on reducing operational costs and enhancing fiscal governance in spite of the challenges imposed by the global coronavirus outbreak that has impacted all companies and sectors. In this context, Prince Naif bin Sultan Al Kabeer, Board of Director’s Chairman at Zain KSA stated: “2020’s fiscal results underscore the outstanding success of Zain KSA’s strategy which aims to benefit its shareholders on one side while developing the national ICT sector on the other. more...