Mobile Telecommunication Company Saudi Arabia’s (Zain Saudi) net profit after Zakat and tax rose 46% year-on-year (YoY) to SAR 485 million for fiscal year 2019, compared to SAR 332 million a year earlier.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 7,530.53 | 8,386.23 | 11.4 % |
| Gross Income | 5,424.56 | 5,968.51 | 10.0 % |
| Operating Income | 1,373.41 | 1,758.30 | 28.0 % |
| Net Income | 332.36 | 485.18 | 46.0 % |
| Average Shares | 573.22 | 573.22 | - |
| EPS (Riyals) | 0.58 | 0.85 | 46.0 % |
The telecom operator attributed the growth in annual profit to an 11% increase in revenue to SAR 855 million, driven by rising demand for its products and services. In addition, operating expenses declined by SAR 269 million to SAR 491 million following the adoption of IFRS 16.
In Q4 2019, net profit tumbled 74% YoY to SAR 104.8 million.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 2,046.24 | 2,227.90 | 8.9 % |
| Gross Income | 1,824.66 | 1,469.37 | (19.5 %) |
| Operating Income | 674.60 | 430.27 | (36.2 %) |
| Net Income | 399.26 | 104.96 | (73.7 %) |
| Average Shares | 573.22 | 573.22 | - |
| EPS (Riyals) | 0.70 | 0.18 | (73.7 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 2,008.08 | 2,227.90 | 10.9 % |
| Gross Income | 1,495.03 | 1,469.37 | (1.7 %) |
| Operating Income | 450.21 | 430.27 | (4.4 %) |
| Net Income | 120.71 | 104.96 | (13.0 %) |
| Average Shares | 573.22 | 573.22 | - |
| EPS (Riyals) | 0.21 | 0.18 | (13.0 %) |
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