Zain Saudi’s Q3 net loss narrows

Telecom operator Zain Saudi reported a narrowing third-quarter loss on Tuesday, roughly in line with analyst forecasts as margins improved, provisions fell and Internet usage increased.

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Published: Thu 30 Oct 2014, 12:35 AM

Last updated: Sat 4 Apr 2015, 3:23 AM

Zain Saudi, 37 per cent owned by Kuwait’s Zain, made a net loss of SR316 million ($84.23 million) in the three months to September 30. This compares with a net loss of SR421 million in the prior-year period.

Analysts polled by Reuters on average forecast Zain Saudi would make a quarterly loss of SR329.7 million.

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