Zain reports $180.59m in Q4 income
Kuwait’s biggest telecoms operator, Zain has posted near-flat fourth-quarter profit, missing analysts’ estimates, Reuters has reported. The former monopoly, which operates in eight countries in the Middle East and Africa, made a net profit of KD51m ($180.59m) in the three months to December 31, compared with KD50.5m in the year-earlier period. Analysts had forecast Zain would make a quarterly profit of between KD52.1m and KD59.1m. Full-year profit for 2013 fell to KD216.4m from KD252.2m in 2012.