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Telecoms firm Zain Saudi posts narrowing Q2 net loss
July 16, 2014 / 1:15 PM / 3 years ago

Telecoms firm Zain Saudi posts narrowing Q2 net loss

DUBAI, July 16 (Reuters) - Telecom operator Zain Saudi reported a narrowing second-quarter loss on Wednesday, although the reduction was slightly below the forecast of analysts.

Saudi Arabia’s No.3 mobile company, 37-percent owned by Kuwait’s Zain, made a net loss of 329 million riyals ($87.7 million) in the three months to June 30. This compares with a net loss of 370 million riyals in the prior-year period.

Analysts polled by Reuters on average forecast Zain Saudi would make a quarterly loss of 310.8 million riyals. ($1 = 3.7502 Saudi Riyals) (Reporting by David French; Editing by Olzhas Auyezov)

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