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Zain reveals H1 profit of $3.1bn
- Kuwait: Tuesday, August 10 - 2010 at 10:11
Zain has reported a first-half profit of $3.1bn, which included $2.65bn from the sale of assets in Africa, Bloomberg has reported. Consolidated revenue in Zain's Middle East operations rose 10% from a year-earlier to $2.33bn, it said. Zain in June completed the $9bn sale of its assets in 15 African countries, excluding Morocco and Sudan, to India's Bharti Airtel. The company received $7.9bn from the sale and will receive additional payments of $1.1bn within a year of completing the deal, Zain said.
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