MANAMA: Zain Bahrain reported a net profit of BD4.306 million ($11.4m) for the year ended December 2017, up 1.2 per cent from BD4.254m a year earlier.
The telecoms firm said the profit growth was driven by a 23pc surge in annual data revenues, resulting in revenue growth of 13pc year-on-year, in addition to improvements in operational efficiency.
Revenue last year was BD73.012m as against BD64.647m in 2016.
Data growth was fuelled by a continued expansion in data-centric products and digital offerings, important components of Zain Bahrain’s growth strategy.
The company’s EBITDA reached BD22m in 2017 compared with BD24.8m a year earlier, while its EBITDA margin stood at 30pc for the year.
For the fourth quarter of 2017, Zain Bahrain reported a net profit of BD1.507m, a 24.8pc increase on the BD1.207m recorded a year earlier, with fourth quarter revenues growing by 16.8pc to BD18.485m, up from BD15.824m in 2016.
The company’s EBITDA for the fourth quarter amounted to BD5.3m compared with BD6.2m in 2016.
“Zain Bahrain remains profitable and growing despite a challenging market,” said the company’s chairman Shaikh Ahmed bin Ali Al Khalifa. “Our positive annual and quarterly results in such a difficult environment are a demonstration of the competence of our growth strategy.
“We expect to build on the momentum gained last year through a further expansion of digital offerings. The company is poised to capture the data and digital services market through a differentiated, best-in-class digital customer experience,” he said.
“The focus remains on customer empowerment, convenience, and autonomy. We continue to prioritise this strategy by expanding our range of innovative digital products and services, enhancing our mobile app and online customer portals, and building partnerships with third party content and service providers that can add value to the customer experience.”