Middle East operator group Zain said that in the first nine months of 2012, it saw a net income of KWD201.6 million (US$717.5 million), down 4.1 percent year-on-year, on revenue of KWD974.6 million, up 1.5 percent excluding the impact of currency translation. In a statement, Nabeel Bin Salamah, CEO of Zain Group, described the results as “encouraging”, while also noting that “competition is intense in all of our markets, and the ability to maintain revenue at the levels that have been reported is no easy task”.
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