Zain Zambia has reportedly posted a growth of 20% in H1?09 despite a drop in its market share from 75% to 71% during H1?08. According to unaudited interim results for H1, Zain Zambia stated that its revenue grew to K653,199 million compared with K543,611 million gained during H1?08.
On the other hand, Zain Zambia Plc’s gross profit rose to K550,838 million during H1?09 from K471,831 million H1?08. “Despite this, we have still been able to grow our revenues by 20 per cent and Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) by 14 per cent compared to the same period in 2008,” said managing director David Holliday. “In order to improve operational efficiency, we re-structured our organization and streamlined internal processes. Recent network disruptions, now resolved, unfortunately marred what would have been an unbroken period of technological excellence and customer experience.”
The operator posted a subscriber base of 2.8 million at June’09-end, up 23% since last year.