Dammam-based Zamil Industrial Investment Company (ZIIC) has announced sustained growth in net profits of SR52.9 million ($14.1 million) for the first half of this year, an increase of 51.1 per cent over the same period in 2004.

The figure was reached after zakat contributions.
“The vibrant Saudi economy continues to energise the industrial and construction sectors,” ZIIC chairman Dr Abdulrahman Al Zamil said.
“We anticipate continued growth for the remainder of this year,” he said.
Total turnover for the first half of this year continued its upward trend reaching SR1.2 billion, an increase of SR259 million.
This represents a 28 per cent growth over the same period last year. Shareholders’ equity also increased by 16.5 per cent to SR528.5 million.
As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, process equipment, transmission and telecommunications towers, open web joists and decks, and architectural glass processing solutions to meet the requirements of the global construction industry through its three sector businesses: Zamil Air Conditioners, Zamil Steel Industries and Zamil Glass Industries.
Total exports amounted to SR424 million during the first half, representing 36 per cent of turnover.
ZIIC’s sector business’ products are marketed and sold in more than 75 countries around the world.
For the year ended December 31, 2004, ZIIC posted a turnover of SR1.97 billion, up 26 per cent over 2003.
Export sales accounted for SR889.9 million, representing a 62.5 per cent growth over 2003.
Total turnover during the first quarter of 2005 was SR538 million, an increase of SR147 million, over the same period in 2004.