Mubasher: Mobile Telecommunications (Zain) achieved an increase of 9.4% in profits during the fourth quarter of 2017 compared to the same period a year ago.

Earnings enlarged to KWD 38 million ($126.8 million) in Q4-17 from KWD 34.7 million ($115.8 million) in Q4-16, according to a recent bourse statement.

During the 2017 fiscal year, the Kuwait-based telecom operator achieved a slight growth of 0.8% in profits to KWD 160 million compared to KWD 158.7 million in the 2016 fiscal year.

Zain’s consolidated revenues amounted to KWD 1.03 billion in FY17 when compared to KWD 1.09 billion in FY16.

Earnings per share (EPS) stood at 39 fils in FY17, compared to 40 fils in FY16.

Zain noted that its customer base reached 46.6 million subscribers by the end of 2017 compared to 47 million in the previous year, the statement added.

The board members recommended a cash dividend of 35 fils per share for FY17, with a total of KWD 151.4 million.