Zamil Industrial announces financial results for period ending 31 Dec 2007
Sunday, 20th January 2008
Zamil Industrial has announced its interim financial results for the twelve months ending 31 December 2007 showing a marked increase over last year, in a statement released by Khalid A. Al Zamil, Managing Director.
During the twelve months, net profits after Zakat contributions were SAR 206.5 million (USD 55.1 million) compared to SAR 191.7 million (USD 51.1 million), representing an increase of 7.8 percent over the same period in 2006. Net profits for the same period in 2006 accounted for non-operational profits from the sale of investment shares which amounted to SAR 20 million (USD 5.3 million).
Total turnover for the group was SAR 3,682.6 million (USD 982.0 million), a growth of 28.4 percent compared with same period last year. Shareholders' Equity also increased by 20.6 percent to SAR 894.3 million (USD 238.5 million).
Zamil Industrial operating profits, on the other hand, posted an increase of 27.2 percent from SAR 227.2 million (USD 60.6 million) in 2006 to SAR 288.9 million (USD 77.1 million) as at 31 December 2007.
Post Zakat Earnings per Share grew to SAR 4.59 (USD 1.22) from SAR 4.26 (USD 1.14) representing 7.8 percent growth.
The financial results from October to December 2007 posted net profits of SAR 45.2 million (USD 12.0 million) compared to SAR 36.9 million (USD 9.9 million) in the same period in 2006, an increase of 22.3 percent.
Khalid Al Zamil said, "Our strong performance in 2007 was further enhanced by the Kingdom's strong and vibrant economy, as well as favorable conditions in the GCC. Zamil Industrial sector businesses have done remarkably well in the Saudi market, as well as regional and international markets."
