Zain Bahrain, a telecommunications industry innovator in the kingdom, has seen its Q1 net profit fall 8.9% to BD1.43 million ($3.79 million) from BD1.57 million for the same period in 2022. Earnings per share for the quarter remained at 4 fils.

 

Operating profit in Q1 2023 showed a decrease of 11% from BD1.75 million to BD1.56 million. Revenues for the same period are higher by 5.6% amounting to BD18.17 million compared to BD17.20 million in Q1 2022.

 

At the balance sheet level, Zain Bahrain's total equity at the end of Q1 2023 is at BD81.33 million, reduced by 2.2% from BD83.17 million for the year ending December 31, 2022. The company's assets for the three months ending March 31, 2023 are BD136.56 million, reduced by 2.2% from BD139.63 million as of December 31, 2022.

 

On track

Zain Bahrain Chairman, Shaikh Ahmed bin Ali Al Khalifa, said: "In this first quarter, Zain Bahrain has once again delivered a solid performance with higher revenues, and the confirmation that the telco is on track to achieve its 2023 target. We continue to create value by concentrating on our fundamentals while improving efficiency and customer experience."

 

He continued: "Zain Bahrain differentiates itself through its excellent network and customer relations. The company continued to invest in the quality of its customer experience by introducing another first in the market, a new omnichannel engagement platform. The new omnichannel engagement platform delivers exceptional customer service and an effortless experience that creates seamless, integrated, personalised engagements across every touchpoint throughout the customer service journey."

 

"Zain Bahrain will continue pursuing digital transformation at an accelerated pace, enabling it to continue delivering a superior customer experience, invest in the latest technologies, and enhance its 4G and 5G network across many newly developed areas in the kingdom. Today, we have a solid base from which to put our new strategic plan into action, working together and with determination," he said.

 

Key achievements in Q1 2023

•Launched Interactive 3D Smart Service, Providing the Best Online Shopping Experience for Customers

Launched an innovative 3D smart service in its eShop to support customers with the best online shopping experience when purchasing a device. This initiative is part of the company's commitment to providing accessible online tools that make customer choices easier a key part of Zain Bahrain’s digital transformation journey. 

 

•Launched a First in Market Omnichannel Engagement Platform Delivering a Seamless Customer Experience 

Continued to elevate the customer service experience with its new omnichannel engagement platform through a collaboration with Genesys. The service delivers exceptional customer service and an effortless experience that creates seamless, integrated, personalised engagements across every touchpoint, throughout the customer service journey. 

 

•Continued Expanding its Indoor Network Solutions by Signing a New Agreement with Bahrain Chamber of Commerce and Industry

Signed an agreement with Bahrain Chamber of Commerce and Industry (BCCI), to provide their staff and subleasing partners with state of the art mobile services at their premises. This partnership comes as part of Zain’s commitment to expedite the digital transformation across the kingdom, delivering the latest technology trends and solutions.-- TradeArabia News Service