Zamil Industrial posts net profit of SAR 97 million (USD 26 million) for the first half of 2006
Monday, 17th July 2006
Zamil Industrial Investment Company (ZIIC), the international manufacturing and fabrication group, focused on growth segments of the construction industry (steel, air conditioners, glass and insulation), has announced a net profit after Zakat contributions of SAR 96.9 million (USD 25.9 million) for the first half of this year, an increase of 83.2 percent over the same period in 2005.
Total turnover for the first half of this year was SAR 1.34 billion (USD 356 million), an increase of SAR 143 million (USD 38.2), representing a 12 percent growth over the same period in 2005. Shareholders' Equity also increased by 24.5 percent to SAR 657.8 million (USD 175.4 million).
Post Zakat Earnings per Share during the first half of 2006 grew to SAR 2.15 (USD 0.57).
Total exports amounted to SAR 500 million (USD 133.3 million), representing 37% of turnover. The products of ZIIC's sector businesses are marketed and sold in more than 80 countries around the world.
Khalid A. Al Zamil, Managing Director of ZIIC commented on the first half results: "ZIIC's performance during the first half of the year was remarkable with significant growth compared with the same period last year. Securing several major contracts contributed to this. We anticipate continued growth for the remainder of this year."