Leading telecommunications provider in the kingdom, Zain Bahrain has reported net profit of BD 1.698 million for Q4-2020, up an impressive 17 per cent from BD1.454m for the same period in 2019.
Earnings per share for the quarter reached five fils, up from four fils in Q4 2019.
Revenues for the same period decreased by 8pc from BD17.106m to BD15.739m.
Operating profit in Q4 2020 amounted to BD1.936m, up 14pc from BD1.697m recorded in Q4 2019.
For the year ended 2020, Zain Bahrain reported a net profit of BD5.404m, representing a 3pc increase from BD5.269m in 2019.
Earnings per share for the year stood at 15 fils compared with 14 fils in 2019, a 3pc increase.
Zain Bahrain generated revenues of BD61.991m compared with BD62.894m in 2019, a 1pc decline.
Operating profit for the period was stable at BD6.339m, compared with BD6.340m for 2019.
On the balance sheet level, Zain Bahrain’s total equity at the end of 2020 amounted to BD75.482m, up 4pc from BD72.260m in 2019.
The value of the company’s assets at the end of 2020 amounted to BD125.731m, up by 6pc from BD118.738m as of end-2019.
Zain Bahrain’s board of directors has recommended dividends representing 6pc of the company’s paid-up capital, equivalent to six fils per share.
Commenting, Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa said, “Despite the challenges brought about by the pandemic, 2020 was another year of growth for our company thanks to our resilient policies and business approach and the dedicated efforts of our human talents. As a leading telecom operator in the kingdom, Zain Bahrain continued to deliver on its promise to provide the best technology and solutions, ensure the best customer service, and meet the growing demands of an increasingly digital market.”
Shaikh Ahmed added, “In 2020, we were proud to have launched and expanded our 5G commercial services, accelerating new innovative business models and unlocking opportunities for many sectors. And in a year that saw online service channels and remote support take a centre stage, we improved our smart branch self-service machines, enhanced our AI web chat robot zBot, and launched the Be Safe initiative to enable customers to use all digital channels in a secure manner from the relative safety of their homes.”
“In the new year, Zain Bahrain will continue to strengthen its product portfolio and content ecosystem and play a key role in developing Bahrain into a leading technology and economic hub,” Shaikh Ahmed concluded.