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Zain Bahrain, the Kingdom's largest telecommunications company, announced its financial results for the first six months of 2019 and ending June 30, with a net profit of 2.533 million KD (6.701 million USD), an increase of 9% over one year, 2,332 million KD. ($ 6,169 million) for the same period of fiscal 2018. Operating profit increased 34 percent year-over-year from 2,324 million dinars (6,148 million usd) in the first half of 2018 to 3.106 million dinars ($ 8.217 million). I 2019. The positive results of the first half The irrigation as a result of initiatives to improve the efficiency and cost improvement launched by the company which in addition to the growth consumer portfolios sectors and institutions coincided with Zain Bahrain's progress in its digital transformation initiative.
The company made profits in the first half of 2019 despite a 7% drop in its revenue from KD 33.010 million (US $ 87.328 million) in the first half of 2018 to JD 30.547 million (US $ 80.812 million) as at June 30, 2019. This growth A number of operational improvements, including the introduction of enhanced digital and automated services in Zain Bahrain operations.
Earnings per share increased by 17% in the first half of 2019, rising to 7 yoys compared to the same period last year, or 6 yrs. Earnings per share in the second quarter of 2019 decreased by 33% to 2 leads after reaching 3 leads in the same period in 2018.
In the three months ended June 30, 2019, Zain Bahrain's net income decreased 34 percent year-over-year from 1,224 million dinars ($ 3,238 million) in the second quarter of 2018 to 811 thousand dinars ($ 2.146 million). ). During the same period, it increased by 5%, from JD 1,197 million (USD 3,167 million) in the second quarter of 2018 to JD 1,254 million (USD 3,377 million). The company posted a turnover of 14.932 million dinars (39.503 million USD) in the second quarter of 2019, down 9% from 16 326 million dinars (43.190 million USD) in the second quarter of 2018 .
At the balance sheet level, total badets of the company amounted to 111.539 million dinars (95.077 million USD) in the first six months ended June 30, 2019, an 18 percent year-on-year increase of 94.803 million dinars. Dinars ($ 250,802 million) in the first half of 2018. Total capital reached 69.525 million dinars ($ 183.929 million) at the end of the first half of 2019, a decrease of 1% over the same period in the first half of last year, which amounted to 70.213 million dinars ($ 185.749 million).
Commenting on the results, His Excellency Sheikh Ahmed Bin Ali Al Khalifa, Chairman of Zain Bahrain, said: "The results we achieved during the first half of 2019 reflect our ambitious efforts to continue to achieve positive returns combining profitability and constant commitment to the customer experience. "We are committed to maintaining our position as a leading digital operator in Bahrain, and our efforts to achieve excellence will continue to grow. to be a top priority. Implement the latest solutions and technologies that will delight our customers and help the Kingdom achieve the goals of digital transformation. "
Highlights of Zain Bahrain in the first half of 2019:
• Zain Bahrain provided self-service equipmentSmart Direction"In its Kingdom stores, customers can purchase prepaid lines, postpaid plans and broadband home packages without having to talk to company representatives.
Zain Bahrain launched Zainoft as a new initiative to support emerging businesses in the Kingdom, as part of its commitment to contribute to the Kingdom's economic growth. This initiative fits into the company's efforts to contribute to Bahrain's emerging trading system and fits into its corporate social responsibility strategy, which revolves around three main themes: innovation, intellectual leadership and youth empowerment.
• In the first half, Zain Bahrain signed a number of institutional arrangements with Kingdom clients. These agreements include extending its existing, long-term partnership with Gulf Hotels Group to provide the group's latest hotels, including the luxurious Gulf Suites – Juffair, broadband Internet and advanced communications solutions; CHAPO Bahrain WLL Provide advanced Internet services for fixed lines and mobile phones, as well as a partnership with Security Solutions Bahrain will provide intelligent vehicle management solutions.
• To provide better mobile services to customers around the world, Zain Bahrain has improved roaming coverage by signing an agreement with partners in Azerbaijan, Tunisia and Kazakhstan. Data roaming services now cover 84 countries across 125 roaming partners.
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