Zain Group consolidated financial results for the 12 months ending Dec. 31, 2011 showed a slight growth in key performance indicators, with a consolidated net profit of $1.033 billion, representing an increase of 1 percent as compared with last year, the company said in a statement Tuesday. For the 12 months of 2011, Zain Group recorded consolidated revenues of $4.79 billion (KWD1.32 billion), an increase of 2 percent compared to the 12 months of 2010. The company's consolidated EBITDA increased by 1 percent for the same period to reach $2.174 billion (KWD 600 million) reflecting an EBITDA margin of 45.4 percent, along with EBIT at $1.56 Billion (KWD 429 million) level. Consolidated net income reached $1.033 billion (KWD285 million), representing a 1 percent increase compared to 2010 net income of $1.022 billion (KWD292 million) excluding capital gain of $2,652.7 million (KWD770.4 million) from the sale of Zain Africa. The earnings per share for the 12 months of 2011, stood at $0.27 (KWD 0.073), compared to $0.26 (KWD 0.075) in the previous year. Additionally, shareholders equity stood at $7.925 billion (KWD2.206 billion). Subsequently, the Board of Directors recommended a cash dividend of $0.23 (KWD0.065) per share subject to the annual general assembly and the regulatory approvals. Consolidated customer base grew by 8 percent and stood at 40.2 million active customers across all our operations. Zain Group added around three million new active customers over the past 12 months. Asaad Al-Banwan, Chairman of the Board of Directors of Zain, said "in light of the difficult financial conditions, many markets in the region are still suffering because of the global financial crisis. However, the Group was able to maintain growth levels in its main financial indicators.
