Zamil Industrial’s profits after zakat increased 7.8 per cent to SR206.5 million ($55.1 million) in 2007, compared to SR191.7 million ($51.1 million) in 2006.

Net profits for 2006 included non-operational profits from the sale of investment shares which amounted to SR20 million ($5.3 million).

Total turnover for the group was SR3,682.6 billion ($982.0 million), a growth of 28.4 per cent compared with same period last year. Shareholders’ equity also increased by 20.6 per cent to SR 894.3 million ($238.5 million), said the statement released by Khalid A Al Zamil, managing director.

Zamil Industrial operating profits, on the other hand, posted an increase of 27.2 percent from SR 227.2 million ($60.6 million) in 2006 to SR288.9 million ($77.1 million) as at December 31, 2007.

Post Zakat earnings per share grew to SR4.59 ($1.22) from SR4.26 ($1.14) representing 7.8 per cent growth.

During the fourth quarter of 2007, the company posted a net profit of SR45.2 million ($12.0 million) compared to SR36.9 million ($9.9 million) in the same period in 2006, an increase of 22.3 percent.

Khalid Al Zamil said: “Our strong performance in 2007 was further enhanced by the kingdom’s strong and vibrant economy, as well as favorable conditions in the GCC. Zamil Industrial sector businesses have done remarkably well in the Saudi market, as well as regional and international markets.”  -TradeArabia News Service