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Zain KSA posted a 13 per cent rise in 2011 revenues and unveiled plans to embark on the telecom's biggest network expansion to date.
Earnings and revenues
Total earnings for the year increased by 26 per cent to US$850mn, compared to total earnings of US$670mn recorded for 2010. Revenues increased by 13 per cent from US$1.6 billion in 2010 to US$1.79 billion in 2011.
Zain KSA said it is preparing to expand its LTE (Long Term Evolution) network in all major cities, in order to further promote this technology across the majority of the country.
Expansion plans will also include further expansion of the company's fiber optic network project, which is set to significantly cut operating costs for leased lines. These combined activities will further help extend Zain KSA's coverage footprint in the Kingdom.
Reaching new horizons
Commenting on the company's financial results and upcoming plans, Prince Hussam bin Saud bin Abdul Aziz, chairman of Zain KSA, said: "As Zain KSA shifts its focus and intensifies efforts in order to reach new horizons and higher ambitions, these strategies come in time to help us shape the next phase in a way that will boost the company's strategic position and competitive edge in KSA's mobile telecom market."