Feb 14 2012 |
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Kuwait-based Zain's 2011 Net Pft At $1.03B Vs $1.02B A Yr Ago
Tuesday, Feb 14, 2012
DUBAI (Zawya Dow Jones)--Kuwait's Mobile Telecommunications Co., better known as Zain (ZAIN.KW), posted a 2011 net profit of $1.03 billion dollars, compared to $1.02 billion in the previous year, the state-run Kuwait News Agency, or Kuna, reported late Monday.
"The group was affected by the ups and downs of the global currency markets which cost the company $124 million," Zain 's Chairman As'ad Ahmad Al-Banawan said.
Zain 's total subscribers grew 8% in 2011 to over 40.2 million active subscriber, according to Kuna.
-By Shereen El Gazzar, Dow Jones Newswires; +971 444 61684; Shereen.elgazzar@dowjones.com
(END) Dow Jones Newswires
14-02-12 0501GMT
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