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Zamil Industries posts SAR 50.3M (US$ 13.4m) net profits in 2003

   Wednesday, 21st January 2004

Zamil Industrial Investment Company "Zamil Industries" (ZIIC) has announced an 11% increase in net profits after Zakat contributions in its financial results for the fourth quarter ended December 2003.

ZIIC posted turnover during the period of SAR 1.55 billion (US$ 414.2m), a 10.5% increase over 2002. Shareholders Equity recorded an increase of 2.5%, up from SAR 424.7m (US$ 113.3m) in 2002 to SAR 435.5m (US$ 116.1m).

Net profits after Zakat contributions grew by 10.9% to SAR 50.3m (US$ 13.4m), while post Zakat earnings per share grew by 11% to SAR 8.39 (US$ 2.24), up from SAR 7.56 (US$ 2.02) during the same period in 2002.