Zamil Industrial profits rise to SAR 44 million in first quarter of 2006
Monday, 17th April 2006
Zamil Industrial Investment Company (ZIIC), the international manufacturing and fabrication group focused on growth segments of the global construction industry, has announced net profits after Zakat contributions of SAR 44.1 million / USD 11.8 million, after a remarkable performance during the first quarter of 2006. This is an impressive increase of 102% in profit over the same period in 2005.
Turnover for the first quarter reached SAR 594.7 million / USD 158.6 million, an increase of 10.6% compared with the same period of 2005. Shareholders Equity rose by 27.1% to SAR 618.7 million / USD 165 million, up from SAR 486.9 million / USD 130 million in the similar period of 2005.
Post Zakat Earnings per Share (EPS) grew by 102% to SAR 6.3 / USD 1.68, compared with SAR 3.12 / USD 0.83 in 2005.
Exports for the first quarter in 2006 climbed to SAR 239.6 million / USD 63.9 million up by 16% from the same period in 2005, representing 40% of total revenues.
Dr. Abdulrahman Al Zamil, Chairman, ZIIC, commented on the excellent results: "We are very pleased with our performance and our operational efficiency. All our sector businesses are faring well. Our expansion projects in the Kingdom of Saudi Arabia, the UAE, India and Vietnam, will boost further our manufacturing capabilities and give our industries a clear competitive edge in serving our global clients and creating value for our shareowners and meeting the expectations of all our stakeholders".
