RIYADH: Zain Saudi Arabia posted a record revenue of SR1.48 billion for the first quarter of this year ending March 31, a 36 percent increase over the same period last year, the company said in a statement posted online. The company also reported “an impressive 86 percent growth in gross profits of SR716 million for the three month period”, compared with the SR384 million during the same period in 2010,” the company added. “Notably, the fist quarter saw operational losses decreased significantly by 46 percent to SR233 million in the first quarter of 201, compared with SR435 million in first quarter of 2010, it said. Prince Hussam Bin Saud Bin Abdul Aziz, chairman of Zain Saudi Arabia, said the financial results for the first quarter this year reflected the company's ability to enhance its competitive edge in the Saudi telecom market with its strong marketing campaign.The campaign, it said, has “captured customer confidence and retained brand loyalty”. Saad Al-Barrak, managing director and CEO of Zain Saudi Arabia, said the 2011 first quarter financial results reflected the company's rapid and steady growth in its operations and in investment. “Zain Saudi Arabia succeeded significantly in increasing the volume of calls and the average broadband usage on its network in the first quarter of 2011,” said Al-Barrak. He said decreasing the cost of national roaming saw a 20 percent decrease in net losses which reached SR532 million last year. Al Barrak said the company's gross profit margin grew by 48 percent, compared to 35 percent for the same period in 2010.
