ZIIC posts $13.4 million net profits in 4Q 2003
Saudi Arabia’s Zamil Industrial Investment Company (ZIIC) has announced an 11 percent increase in net profits after Zakat contributions in its financial results for the fourth quarter ending December 2003.
ZIIC posted turnover during the period of 1.55 billion Saudi riyals ($414.2 million), a 10.5 percent increase over 2002. Shareholders equity recorded an increase of 2.5 percent, up from SR 424.7 million in 2002 to SR 435.5 million.
ZIIC was founded in 1998 in Dammam and employs more than 5,000 people in 50 countries. As an international manufacturing and fabrication group, it provides air conditioning, pre-engineered steel buildings, structural steel products, transmission towers, open web joists and decks, and architectural glass processing solutions its three sector businesses. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
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