Zain narrows accumulated losses to 31% of capital

13/02/2019 Argaam

 

Mobile Telecommunications Co.’s Saudi Arabia (Zain) accumulated losses have declined to SAR 1.8 billion, or 30.84 percent of capital as of Jan. 24, 2019, it said in a statement to Tadawul .

 

The cut in losses was attributed to higher revenue, lower cost of revenue, higher other income and finance income in addition to the effect of IFRS 9 and 15.

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