Bahrain - Zain Bahrain, a leading telecom services provider in the kingdom, has registered a net profit of BD2.852 million for the six-month period ended June 30, 2022, over the last year's figure of BD2.773 million.
Announcing the H1 results, Zain Bahrain said its earnings per share remained at 8fils for the six months compared to the same period recorded in 2021. Zain Bahrain generated revenues of BD33.586 million during the first six months of 2022, an increase of 3% Y-o-Y as compared to BD32.728 million for the same period in 2021.
Operating profit for the six-month period in 2022 stood at BD3.219 million compared to BD3.221 million for the same period recorded in 2021, it added.
Earnings per share for the quarter remained at 3 fils. Revenues for Q2 2022 amounted to BD16.386 million, up by 1% from BD16.220 million in Q2 2021. Operating profit for Q2 2022 amounted to BD1.469 million, a slight decrease by 1% from BD1.490 million in Q2 2021.
For the Q2 period, Zain Bahrain had reported net profit of BD2.852 million, representing a 3% increase Y-o-Y from BD2.773 million for the same period in 2021.
At the balance sheet level, Zain Bahrain's total equity as of 30 June 2022 amounted to BD80.313 million, up by 2% from BD78.872 for the year ending 31 December 2021.
According to Zain Bahrain, the value of the company's assets at the end of Q2 2022 stood at BD129.399 million, down by 1% from BD131.076 million as of 31 December 2021.
The company's strong performance during the first half and second quarter of 2022 is driven by Zain Bahrain's value-oriented business strategy.
Zain Bahrain continues to expand its network footprint and upgrade its network to better serve its customers with resilient and future-proof technology. This has also been recognized by TRA Quality of Mobile Services Report 2021 where Zain achieved the best results nationwide for mobile network speeds for social media.
On the group's resilient performance, Chairman Shaikh Ahmed bin Ali Al Khalifa said: "This quarter, we have strengthened Zain Bahrain’s leading position in the kingdom's telecom market through our data growth, investments in 5G network infrastructure and our superior customer experience."
"Zain Bahrain is focused on the needs of its customers and is maintaining its digital leadership in the market. Our technology leadership is built on the ongoing investment in network infrastructure, and through the development and roll out of innovative solutions," he added.
According to him, Zain Bahrain had also recently completed an innovative streetlight solution in Bahrain Bay to boost 5G, making it the first telco in the kingdom to achieve this milestone.
"The new solution blends seamlessly with the city infrastructure, complementing our commitment to implementing sustainability along our entire value chain," he explained.
"We have also strengthened our presence in Esports by collaborating with Bahrain Esports Federation and Playthera to develop the online gaming ecosystem in the Kingdom and accelerating Esports across the region," he noted.
Shaikh Ahmed said: "We are in a strong position to continue successfully implementing our cutting-edge digitization strategy and progress in key growth areas including 5G broadband services, innovative solutions, and initiatives to exceed the expectations of our customers."
"Zain Bahrain also continues to explore new opportunities to further contribute to the success of the telecom industry in the kingdom," he added.
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