Zain KSA suffers SR 443 m loss in Q4

Mobile Telecommunications Company Saudi Arabia (Zain KSA) has reported a net loss of SR 443 million for the fourth quarter ended Dec. 31, 2012, compared to SR 461 million for the same quarter in the previous year, which represents a decrease in net loss of 4 percent, and compared to a net loss of SR 493 million for the previous quarter, which represents a decrease in net loss of 10 percent.
Gross profit amounted to SR 739 million compared to SR 691 million for the same quarter last year, which represents an increase of 7 percent, according to a company’s statement on Tadawul website.
Loss from operations amounted to SR 262 million, compared to SR 213 million for the same quarter last year, which represents an increase in operating loss of 23 percent.
Net loss during the twelve-month period amounted to SR 1.75 billion, compared to SR 1.95 billion for the same period last year, which represents a decrease in net loss of 9 percent.
Loss per share during the twelve-month amounted to SR 1.34 compared to SR 1.22 for the same period last year.
Gross profit during the twelve-month period amounted to SR 2.86 billion compared to SR 3.20 billion for the same period last year, which represents a decrease of 11 percent.
Loss from operations during the twelve-month period amounted to SR 932 million, compared to SR 811 million for the same period last year, which represents an increase in loss from operations of 15 percent.
The principal reason for the decrease in the net loss by 4 percent during the fourth quarter ended Dec. 31, 2012 compared to the same quarter last year was the decrease in financial charges.
Net loss during the twelve-month period ended Dec. 31, 2012 decreased by 9 percent to reach SR 1.75 billion, compared to SR 1.93 billion during the same period last year. This was mainly attributable to the decrease in financial charges by 26 percent reaching SR 823 million, compared to SR 1.11 billion during the corresponding period last year.