Zamil Industrial Investment Company (ZIIC) has announced its interim financials for the 12 months period ending 31 December 2006 in a statement released by Khalid A Al Zamil, managing director, ZIIC.

During 2006, net profits after ‘Zakat’ contributions were SR191.7 million ($ 51.1 million) compared to SR106.4 million over the same period in 2005, representing an increase of 80.2 per cent. Total turnover for the group was SR2.87 billion, a growth of 21.1 per cent compared with last year. Shareholders’ equity also increased by 26.4 per cent to SR742.9 million.
Operating profits for ZIIC posted an increase of 47.2 per cent from SR153.9 million in 2005 to SR226.5 million in 2006.
Post-Zakat earnings per share during 2006 grew to SR4.26 from SR2.36, representing 80.2 per cent growth.
The financial results from October to December 2006 showed net profits of SR 36.9 million compared to SR 18.4 million in the same period in 2005, an increase of 100.4 per cent.
Al Zamil said, “ZIIC sectors posted record breaking figures in 2006 in local an international sales as well as net profits.  The excellent results are attributed to the increased efficiencies of our manufacturing facilities and the continuous implementation of strategic initiatives across our sector businesses, while focusing on maintaining a strong satisfied customer base.” 
He added, “We forecast 2007 to be another successful year with our new manufacturing facilities scheduled to come on stream during the year coupled with the completion of current expansions.”