Zamil Industrial posts 30.7% jump in 2012 net profit
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Zamil Industrial posts 30.7% jump in 2012 net profit

Zamil Industrial posts 30.7% jump in 2012 net profit

Saudi-based Zamil Industrial Investment Co has said its net profits in the fourth quarter of 2012 jumped 70.7% to SR61.4m ($16.4m) from SR36m ($9.6m) during the same period in 2011, Saudi Gazette has reported. The company said the strong performance in the fourth quarter was due to improved operational efficiency in all sectors, improved performance from overseas operations, and enhanced asset utilisation in the steel sector. Full-year net profits also rose 30.7% to SR201.5m ($53.7m), compared with SR154.2m ($41.1m) recorded in 2011.

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