Zamil Industrial Net Profits Up 1.6%

DAMMAM, 17 April 2007 — Zamil Industrial generated SR44.9 million ($12 million) net profits in the first quarter of this year, an increase of 1.6 percent from SR44.1 million ($11.8 million) recorded over the same period in 2006.

In a statement, Khalid A. Al-Zamil, managing director, said net profits for the same period last year accounted for non-operational profits from the sale of investment shares which amounted to SR22.3 million ($5.9 million).

Total turnover for the group was SR815.5 million ($217.5 million), a growth of 37.1 percent compared with same period last year. Shareholders’ equity also increased by 15.6 percent to SR715.5 million ($190.8 million).

Operating profits posted an increase of 60.6 percent from SR38.5 million.