Zamil Industrial announces financial results for period ending 30/06/2008

During the first half of the year, net profits after Zakat contributions were SR123.4m ($32.9m) compared to SR102.7m ($27.4m), representing an increase of 20.2% over the same period in 2007.

This growth is attributed to an expansion of worldwide sales on the part of the company's sector businesses.

Total turnover for the first half of this year was SR2,293.8m ($611.7m), a growth of 29.3% compared with same period of 2007.

Shareholders' Equity also increased by 20.8% to SR935.2m ($249.4m).

Zamil Industrial operating profits, on the other hand, posted an increase of 17.2% from SR146.6m ($39.1m) in 2007 to SR171.9m ($45.8m) as of 30 June 2007.

Post Zakat Earnings per Share grew to SR2.74 ($0.73) from SR2.28 ($0.60), representing 20.2% growth.

Total exports amounted to SAR 744.6 million ($198.6m), representing 32% of turnover.

The products of Zamil Industrial's sector businesses are marketed and sold in more than 80 countries around the world.

The financial results from April to June 2008 posted net profits of SR73m ($19.5m) compared to SR57.8m ($15.4m) in the same period in 2007, an increase of 26.4%.

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 all sector businesses, exhibiting significant growth when compared with the same period last year. Securing several major contracts contributed to this increase. We anticipate continued growth for the remainder of this year, especially when the newly announced companies begin production."