Zain KSA narrows Q1 net loss
Zain Saudi has narrowed its first-quarter loss from a year earlier, as the telecoms operator cut costs and data revenue surged, Reuters has reported. The kingdom’s third-largest telecoms firm, 37% owned by Kuwait’s Zain, made a net loss of SR318m ($84.8m) in the three months to March 31, compared with a loss of SR398m a year earlier. Earnings before interest, taxation, depreciation and amortisation (EBITDA) of SR300m were up 45%. The company attributed its improved performance to cost cutting in sales, distribution and marketing, as well some changes to the depreciation of property and equipment.