Zain KSA narrows Q4 loss on less financial charges
- Saudi Arabia: Tuesday, January 22 - 2013 at 06:32
The Saudi unit of Kuwait's Zain has reported a 4% narrowing of fourth-quarter loss, as financial charges dropped, Reuters has reported. Zain Saudi said it made a net loss of SR443m ($118.1ms) in the three months to December 31, compared with a net loss of SR461m in the prior-year period. The company made a full-year loss of SR1.7bn in 2012, compared with a loss of SR1.93bn a year earlier. Parent firm Zain in July increased its stake in Zain Saudi to 37% from 25% after underwriting the affiliate's capital restructuring.
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