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Zamil Industrial continues trend of strong performance in 2005

   Sunday, 16th October 2005

ZIIC continues trend of strong performance posting net profit of SAR 88 m / USD 23.5 m for nine months in 2005

Zamil Industrial Investment Company (ZIIC) has announced a net profit of SAR 88 million / USD 23.5 million, after Zakat contribution, for the nine months ending September 2005. This is an increase of 48% over the same period last year.

The turnover was SAR 1.83 billion / USD 490 million, representing an increase of SAR 375 million/ USD100 million, equivalent to 26%, over the same period last year. Shareholders' equity also grew by 18.7 % to SAR 570.6 million / USD 152.1 million, up from SAR 481 million / USD 128.2 million in 2004.

The post Zakat Earnings per Share grew as well by 48 % to SAR 12.5 / USD 3.3, up from SAR 8.5 / USD 2.2 over the same period last year.

Exports amounted to SAR 726.1 million / USD 194 million, representing 40 % of the group's turnover, an increase of 8% over the same period in 2004. ZIIC products are marketed and sold in more than 75 countries around the world.

Dr. Abdulrahman Al Zamil, Chairman, ZIIC, commented about the company's continued strong commercial and financial performance "We have anticipated this period of increased activity and growth. Our production facilities were well prepared to take advantage of these favorable conditions. The general economy in the Kingdom and the GCC has contributed towards a vibrant construction industry. Our sector businesses have been awarded many large contracts in 2005. We expect to maintain our growth and sustain our high productivity. Our international operations have performed very well and have posted excellent results, while our exports continue to be very strong. This is further testimony about the quality of Saudi products and their ability to compete in world markets".