Net profits at Zamil Industrial Investment Company (ZIIC) for the first nine months of 2006 reached SR154.7 million ($41.3 million) after zakat contri-butions, a 76 per cent surge over the same period in 2005, the company reported.

Total turnover for the group was SR2.1 billion, a growth of 15.2 per cent, while shareholders equity increased by 24.3 per cent.
Net profits for the third quarter, July to September, were SR57.8 million compared with SR35 million.
Commenting on the performance, ZIIC managing director Khalid A Al Zamil said the process of expanding production facilities and improving manufacturing capabilities, which started in 2003, was yielding results. 
“We are able to cope with the additional demands on our industries and sustain our growth. Our recent acquisitions of complementary industries have also contributed to our company’s record results. All our sector businesses, including our international operations and exports, are performing very well as we’ve expected,” he added.
Founded in 1998 and headquartered in Dammam, Saudi Arabia’s eastern region, ZIIC has developed as a international manufacturing and fabrication group providing air conditioning equip-ment, pre-engineered steel buildings, structural steel products, process equipment, transmission and telecommunication towers, open web joists and decks, architectural glass processing and fibreglass insulation solutions. The company operates through its four sector businesses: Zamil Air Conditioners, Zamil Steel Industries, Zamil Glass Industries and Arabian Fiberglass Insulation Co Ltd.
For the whole of 2005, ZIIC posted a turnover of SR2.4 billion and net profits of SR106.4 million. Export sales accounted for 39 per cent of total revenues.
The company employs more than 6,500 people in 55 countries.