Good achievement given such exceptional circumstances
Zain Group’s FY 2016 revenues decreased by 4.4% to KWD1.087bn, negatively affected by the continued drop of its main revenue contributor, the Iraqi entity, and by the significant currency devaluation in Sudan. Indeed, Zain Iraq’s revenues went down by 10.7% to KWD327m, severely hampered by the continued political and civil instability, with a c.30.1% contribution to sales vs. 32.2% in 2015 and 37.5% in 2014. Despite the intense price competition, Zain Kuwait managed to maintain stable revenues at KWD322m (-0.2%, yoy).
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