Zamil Industrial Investment Company (ZIIC) has announced net profits after Zakat contributions of SR21.8 million ($5.8 million) for the first quarter of 2005. This represents an impressive increase of 167 per cent over the same period in 2004.

ZIIC, the international manufacturing and fabrication group focused on growth segments of the construction industry, also said total turnover during the quarter was SR538 million, an increase of SR147 million over the same period in 2004.
Shareholders’ equity increased by 14 per cent to SR487 million, up from SR427.5 million in 2004. ZIIC Products are sold in more than 75 international markets around the world.
Net profits after Zakat contributions grew by 167 per cent to SR21.8 million compared to SR8.1 million in the equivalent period in 2004. Post Zakat earnings per share grew to SR3.12, up from SR1.17 in 2004.
Total exports amounted to SR207million, representing 38 per cent of group turnover.
ZIIC chairman Dr Abdulrahman A Al Zamil, in a clear reference to the remarkable growth in turnover and profit, said: “Our strategic investments in the expansion of our production facilities and advanced technologies are paying off.
“Our air conditioning sector has performed very well considering the unusual winter season this year, while our steel sector continues to set unprecedented records.”