Zain Group has reported a 3.3 percent rise in first-quarter profits to KWD75.7 million ($260.5 million), compared with KWD73.3 million a year ago. Consolidated revenues jumps by 25 percent to KWD567.2 million ($1.96 billion), an increase of 25 percent compared to Q1 2008. Profits were held back due to costs associated with the recent launch of networks in the Kingdom of Saudi Arabia and Ghana. The company said that it ended the quarter with 64.7 million customers - a jump of 41 percent over the year. Zain Group CEO Dr Saad Al Barrak said: “Despite the challenges imposed by the global economic crisis and the competitive markets in which we operate, these impressive first quarter results are testament to the sound management practices of the Group and a reflection of our unwavering commitment to reach our 2011 target of being a top
