Advanced Building Industries Co. — Earnings Release 2003

Oct 19, 2003

ZAMIL INDUSTRIES POSTS 45.3M NET PROFITS BY THE END OF Q3

2240 · 19/10/2003 09:27:22 · Announcement #5016 · View on Saudi Exchange

ZAMIL INDUSTRIES POSTS 45.3M NET PROFITS BY THE END OF Q3

Dr. Abdulrahman A. Al-Zamil, Chairman of Zamil Industrial Investment Company (ZIIC), the international manufacturing and fabrication group focused on growth segments of the construction industry, has announced a 9.3% increase in profits after Zakat contributions in its financial results for the nine months ending September 2003. Dr. Al-Zamil said "the steel sector in particular posted very good results and witnessed increase in its activities through its three manufacturing facilities located in Dammam, Saudi Arabia and Zamil Steel's factories in Egypt and Vietnam. We are reporting considerable growth in sales volume of ZIIC's three sectors: Air Conditioning, Steel and Glass, in addition to an increase of 13.2% in exports compared to last year representing around 34% of the overall turnover". ZIIC turnover rose by 10% to SAR 1209.5m (US$ 332.5m). This includes significant growth in export sales, which rose more than 13% to SAR 407.7m (US$ 108.7m), a contribution of 33.7% to the total turnover. Shareholders Equity witnessed a slight increase of 1.1% to SAR 430.6m (US$ 114.8m) at the end of the third quarter of 2003 from SAR 425.9m (US$ 113.6m) in comparison with the same period in 2002. Net profits increased by 9.3% (after Zakat contributions) to SAR 45.3m (US$ 12.1m), while post Zakat earnings per share grew by 9.3% to SAR 7.55 (US$ 2.01), up from SAR 6.91 (US$ 1.84) during the same period in 2002.

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