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Zain Saudi's Q2 revenues doubled

18 July 2010

Zain Saudi Arabia posted its lowest quarterly loss since it started operations two years ago, Reuters has reported. The firm made a net loss of 632 million riyals in the second quarter, down from 857 million riyals a year earlier. "The reason of the decrease in the second-quarter's net loss is the wider customer base which rose noticeably during the second quarter, exceeding 7 million customers," Saad al-Barrak, Zain Saudi's chief executive said in a statement. "The gross profit margin rose to 42 percent against 19 percent for the same period in the previous year," he said.

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