Zain plans to reach break-even point within 5 years, CEO

Mobile Telecommunication Co. Saudi Arabia (ZAIN), the country’s third-largest mobile company by number of subscribers, plans to break even in less than 5 years as the company smaller losses in the 4th quarter showed it was on the right track, Reuters reported, citing Zain’s Chief Executive Officer Hassan Kabbani.

The company could double revenue if needed, but it will be at low margin or loss, instead it prefers to achieve higher profit margin, Mr Kabbani added.

Zain Saudi reduced losses to SAR 318 million  in the 1st quarter from SAR 398 million in the same period last year. Revenue, however, dropped to SAR 1.55 billion from SAR 1.8 billion in the 1st quarter.

Zain Saudi is 37 percent owned by Kuwait’s Zain.