The company's revenues reached SR3.04 billion, up 495 percent, compared to SR505 million during the previous year.

"This is a remarkable achievement which has encouraged both the company and its customers," said Prince Husam bin Saud, chairman of the board of directors of Zain Saudi Arabia. The prince added that the financial results for the year that ended on Dec. 31 show a positive achievement in the volume of revenue and gross profit, which reflects very clearly the extent of investment Zain is making in the Kingdom's telecommunications market.

The prince explained that his company has gained an 18 percent market share in the Kingdom with a client base of 6 million customers which was developed within a short span of 16 months. By virtue of Zain's performance in the Kingdom, it was able to gain the confidence of local and foreign banks and has proved successful in signing a SR9.75 billion agreement.

Saad Al-Barrak, managing director and chief executive officer of Zain Saudi Arabia, said the success is mainly due to Zain's professionalism. "We will increase our revenues by 80 percent in the current year and plan to enhance the number of subscribers to 7.5 million. Despite extensive marketing programs and construction projects," he said, adding that the company has produced excellent results.

Ismail Bin Fikri, executive chairman for operations, said the Zain network has covered 83 percent of the Kingdom's total populated area. "We will forge ahead providing the fourth generation program with state-of-the art technology," he said.

The company has already signed an agreement for roaming facility with 300 mobile operators around the world.