Saudi-based Zamil Industrial said its net profit for the first nine months ending September 30, 2008, rose 27 per cent to SR205.1 million ($54.7 million) when compared to SR161.3 million ($43 million) during the same period last year.

Announcing the company's interim consolidated financial results, managing director Khalid A. Al Zamil said the total turnover for the group was SR3,600.5 million ($960.1 million) with a growth of 29.5 per cent when compared to the same period last year.

The shareholders’ equity also increased by 20.3 per cent to SR1,006million ($268.3 million), he pointed out.

Zamil Industrial operating profits registered an increase of 22.5 per cent from SR230.5 million ($61.5 million) in 2007 to SR 282.4 million ($75.3 million) as of 30 September 2008. Post Zakat earnings per share grew to SR4.56 from SR3.59.

The financial results from July to September 2008 posted net profits of SR81.7 million when compared to SR58.7 million in the same period in 2007 with an increase of 39.2 per cent.

'Zamil Industrial's performance during the first nine months was remarkable with significant growth compared with the same period last year due to increased sales generated from our domestic and international operations,' Al Zamil remarked.

'The expansion of our production facilities and improving upon our manufacturing capabilities has yielded excellent results. We are able to cope with the additional demands on our industries and sustain our growth,' he added.-TradeArabia News Service