Mubasher: Mobile Telecommunications (ZAIN) reported a 12% in profits during the first nine months of the year, as shown by the company’s financial statements.

Profits amounted to KWD 153 million ($504 million) in the nine-month period ended 30 September, compared to KWD 137 million ($454 million) for the same period in 2018.

Operational revenues grew by 35% to KWD 1.2 billion ($4 billion), compared with KWD 906 million ($3 billion) for the corresponding period last year.

ZAIN, which owns and operates eight telecommunication networks across the Middle East and Africa, recorded an increase in earnings before interest, tax, depreciation, and amortization (EBITDA) by 44% to KWD 538 million, with a client base exceeding 49 million subscribers.

The improvement in financial indicators was supported by a better performance by Zain KSA.