Expected disappointing performance
Zain Group’s 9M 2015 revenues crushed by 7.2% at KWD855M, with a decrease affecting its two main revenue contributors, Iraq and Kuwait. Zain Kuwait’s revenues decreased by 7.1% mainly due to OTT impact. Iraq’s revenues also went down by 21.1% to KWD277M, severely hampered by the escalation of political and social instability, which has led to the internal displacement of several million people, coupled with the fact that Zain Iraq has been enduring frequent temporary network shutdowns (with a c.32.4% contribution to sales v.s.
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