Net profits at Zamil Industrial, which operates four sector businesses, increased 7.8 per cent to SR206.5 million ($55.1 million) in 2007, compared with SR191.7 million in 2006.

Net profits for 2006 had included non-operational profits from the sale of investment shares which amounted to SR20 million ($5.3 million).
The sector businesses Zamil Industrial operates are Zamil Air Conditioners, Zamil Steel Industries, Zamil Glass Industries and Arabian Fiberglass Insulation Co Ltd.
Total turnover for the group was SR3.68 billion, a growth of 28.4 per cent compared with the same period in 2006. Shareholders’ equity also increased by 20.6 per cent to SR894.3 million, said a statement released by Khalid A Al Zamil, managing director.
Zamil Industrial’s operating profits posted an increase of 27.2 per cent from SR227.2 million in 2006 to SR288.9 million at the end of December 2007.
Post-zakat earnings per share grew to SR4.59 from SR4.26, representing a growth of 7.8 per cent growth.
During the fourth quarter of 2007, the company posted a net profit of SR45.2 million compared with SR36.9 million in the same period in 2006, an increase of 22.3 per cent.
Khalid Al Zamil said: “Our strong performance in 2007 was further enhanced by the kingdom’s strong and vibrant economy, as well as favorable conditions in the GCC. Zamil Industrial sector businesses have done remarkably well in the Saudi market, as well as regional and international markets.”