Zamil Industrial Investment Company (ZIIC) has announced its interim financials for the twelve months period ending 31 December 2006 in a statement released by Khalid A. Al Zamil, Managing Director, ZIIC.
During 2006, net profits after Zakat contributions were SAR 191.7 million (USD 51.1 million) compared to SAR 106.4 million (USD 28.4 million), representing an increase of 80.2 percent over the same period in 2005. Total turnover for the group was SAR 2.87 billion (USD 765.1 million), a growth of 21.1 percent compared with last year. Shareholders’ Equity also increased by 26.4 percent to SAR 742.9 million (USD 198.1 million).
Operating profits for ZIIC, on the other hand, posted an increase of 47.2 percent from SAR 153.9 million (USD 41.0 million) in 2005 to SAR 226.5 million (USD 60.4 million) in 2006.
Post Zakat Earnings per Share during 2006 grew to SAR 4.26 (USD 1.14) from SAR 2.36 (USD 0.63) representing 80.2 percent growth.
The financial results from October to December 2006 posted net profits of SAR 36.9 million (USD 9.9 million) compared to SAR 18.4 million (USD 4.9 million) in the same period in 2005, an increase of 100.4 percent.
Khalid Al Zamil said, “ZIIC sectors posted record breaking figures in 2006 in local, international sales, as well as net profits. The excellent results are attributed to the increased efficiencies of our manufacturing facilities and the continuous implementation of strategic initiatives across our sector businesses, while focusing on maintaining a strong satisfied customer base.” He added, “We forecast 2007 to be another successful year with our new manufacturing facilities scheduled to come on stream during the year coupled with the completion of current expansions.”
About Zamil Industrial Investment Company
Zamil Industrial Investment Company (ZIIC) was founded in 1998. It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 6,500 people in 55 countries. As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, process equipment, transmission and telecommunications towers, open web joists and decks, architectural glass processing and fiberglass insulation solutions to meet the requirements of the global construction industry through its four sector businesses: Zamil Air Conditioners (www.zamilac.com), Zamil Steel Industries (www.zamilsteel.com), Zamil Glass Industries (www.zamilglass.com) and Arabian Fiberglass Insulation Co. Ltd. (www.afico.com.sa).
For the year ended 31 December 2005, ZIIC posted turnover of SAR 2.4 billion/USD 631.9 million, a growth of 20.5% over 2004, with net profit, after Zakat contribution, of SAR 106.4 million/USD 28.4 million. Post Zakat Earnings Per Share also grew by 51.6% to SAR 15.19/USD 4.05, up from SAR 10.02/USD 2.67 during the same period in 2004. Shareholders’ equity grew by 18.7% to SAR 587.5 million/USD 156.7 million. Export sales accounted for SAR 934 million/USD 249 million representing 39% of total revenues and 5% growth over 2004. ZIIC exports to more than 80 international markets.
ZIIC shares are actively traded on the Saudi Stock Market. More information can be found at www.ziic.com.
