The financial statements of the Mobile Telecommunications Company (Zain) showed that the company's profits fell in the past year by 14.7% on an annual basis.
According to the company's results for the Kuwaiti Stock Exchange, today, Wednesday, the profits of last year amounted to 185.15 million dinars, compared to the profit for 2019 of 216.93 million dinars.
The company said in a statement to the Stock Exchange that the decline in profits during the comparative years is mainly due to the impact of the new Corona virus (Covid 19) on all the group's main markets.
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The company achieved profits of 53.56 million dinars in the fourth quarter of last year, compared to profits of 63.96 million dinars in the same period of 2019, a decrease of 16.3%. / p>
The total equity of the company's shareholders at the end of last year was 1.315 billion dinars, compared with 1.299 billion dinars in 2019, an increase of 1.2%.
On the other hand, the total operating income of the company declined last year by about 2%, to reach 1.627 billion dinars, compared to 1.661 billion dinars in 2019.
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The company's board of directors recommended, in its meeting that took place yesterday, to distribute cash dividends for the past year at 33% of the nominal value of the share at 33 fils per share.
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