KUWAIT, May 13 (KUNA) — Zain Telecom Group announced Thursday that its profit for the first quarter of the current fiscal year, 2010, was at USD 179.1 million. Zain Group Chairman Asaad Al-Banwan told the press that the total earnings of the Zain Group in the Mideast region reached USD 1.15 billion, an increase of 11 percent from the 2009′s number of USD 1.04 billion.
Regarding the financial status of Zain in the first quarter, Al-Banwan indicated that despite the shifts on its operational mechanism, Zain had achieved 24 percent growth in its operational net profit. He also noted that profit for shareholders had also increased in the first quarter by 10 percent, settling at USD 8.72 billion in contrast to the USD 7.95 billion number in the same period in 2009.
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