Zamil Industrial announces its financial results for period ending 31 Dec 2008
Sunday, 15th February 2009
Zamil Industrial has announced the results of its consolidated financial statements (audited) for the year ending 31/12/2008. Net profits for the year were SAR 225.1 million as compared to SAR 206.5 million, representing an increase of 9 percent over the same period in 2007. Earnings per share grew to SAR 5 from SAR 4.59 representing 9 percent growth over the same period in 2007. Gross profit for the twelve-month period was SAR 965.6 million, compared to SAR 734.9 million for the same period in 2007, representing an increase of 31 percent. Operating profits for the twelve months were SAR 343.2 million, compared with SAR 290.2 million for the same period in 2007, representing an increase of 18 percent. Growth results were attributed to increases in sales and expansion of operations.In related developments, Zamil Industrial Board of Directors held its meeting on Saturday, 14 February 2009 and approved the audited consolidated financial statements for the year ending 31/12/2008. Based on the company's financial position, the board has proposed the distribution of dividends at SAR 1.50 per share, which represents 15% of company capital for a total amount of SAR 67.5 million. Eligibility for dividends will be determined for shareholders owning shares at the close of trading on the date of the annual general assembly meeting, which will approve the distribution of dividends. The date and time of the meeting will be fixed at a later stage and announced to the public.
