Zamil Industrial Investment Company (ZIIC), the international manufacturing and fabrication group, announced a net profit after Zakat contributions of SR96.9 million ($25.9 million) for the first half of this year, up 83.2 per cent over the same period in 2005.

Total turnover for first-half 2006 was SR1.34 billion, an increase of SR143 million and representing a 12 per cent growth over the same period in 2005. Shareholders’ equity also increased by 24.5 per cent to SR657.8 million.
Post-Zakat earnings per share during the first half of 2006 grew to SR2.15.
Total exports amounted to SR500 million, representing 37 per cent of the turnover. The products of ZIIC’s sector businesses are marketed and sold in more than 80 countries around the world.
In 2005 ZIIC posted a turnover of SR2.4 billion, a growth of 20.5 per cent over 2004, with net profits, after the Zakat contribution, of SR106.4 million.
Khalid A Al Zamil, managing director of ZIIC, said: “ZIIC’s performance during the first half of the year was remarkable with significant growth compared with the same period last year. Securing several major contracts contributed to this. We anticipate continued growth for the remainder of this year.”
ZIIC, founded in 1998 and headquartered in Dammam, provides air conditioning, pre-engineered steel buildings, structural steel products, process equipment, transmission and telecommunications towers, open web joists and decks, architectural glass processing and fibreglass insulating solutions to meet the requirements of the global construction industry. These are supplied through its three sector businesses: Zamil Air Conditioners, Zamil Steel Industries and Zamil Glass Industries.