Zamil Industrial announces financial results for period ending 30/06/2007
Zamil Industrial has announced its interim financial results for the first half ending 30 June 2007 showing a marked increase over last year. In a statement released by Khalid A. Al Zamil, Managing Director, he confirmed that Zamil Industrial had performed strongly across all four industry sector business units.
During the first half of this year net profits after Zakat contributions were SAR 102.7 million (USD 27.4 million) compared to SAR 96.9 million (USD 25.9 million) over the same period in 2006, representing an increase of 6%. Net profits for the same period last year accounted for non-operational profits from the sale of investment shares which amounted to SAR 22 million (USD 5.9 million). A comparison of net profits, not withstanding returns from investments, shows an increase of 37.5% for the period ending 30 June 2007 against profits of SAR 74.7 million (USD 19.9 million) for the same period last year.
Total turnover for the group was SAR 1,773.6 million (USD 473 million), a growth of 32.8% compared with same period last year. Shareholders’ Equity also increased by 17.7 percent to SAR 774.1 million (USD 206.4 million).
Zamil Industrial operating profits reached SAR 146.6 million (USD 39.1 million) as at 30 June 2007, an increase of 35.3% from SAR 108.3 million (USD 28.9 million) in 2006.
Post Zakat Earnings per share grew to SAR 2.28 (USD 0.61) from SAR 2.15 (USD 0.57) representing 6% growth.
The financial results from April to June 2007 posted net profits of SAR 57.8 million (USD 15.4 million) compared to SAR 52.8 million (USD 14.1 million) in the same period in 2006, an increase of 9.4%.
Khalid Al Zamil said, “Zamil Industrial posted outstanding results during the first half of this year while maintaining a balanced and sustainable growth throughout its four sector businesses. The company export sales have also soared 46.2 percent over the same period last year representing 41 percent of our consolidated sales.”