Advanced Building Industries Co. — Earnings Release 2007

Jul 16, 2007

ZAMIL INDUSTRIAL ANNOUNCES FINANCIAL RESULTS FOR PERIOD ENDING 30/06/2007

2240 · 16/07/2007 16:10:24 · Announcement #11276 · View on Saudi Exchange

ZAMIL INDUSTRIAL ANNOUNCES FINANCIAL RESULTS FOR PERIOD ENDING 30/06/2007

Zamil Industrial has announced its interim financials for the first quarter ending 30 June 2007 in a statement released by Khalid A. Al Zamil, Managing Director.

During the first half, net profits after Zakat contributions were SAR 102.7 million (USD 27.4 million) compared to SAR 96.9 million (USD 25.9 million), representing an increase of 6 percent over the same period in 2006 due to increase of local and international sales. Net profits for the same period last year accounted for non-operational profits from the sale of investment shares which amounted to SAR 22 million (USD 5.9 million).

Total turnover for the group was SAR 1,773.6 million (USD 473 million), a growth of 32.8 percent compared with same period last year. Shareholders? Equity also increased by 17.7 percent to SAR 774.1 million (USD 206.4 million).

Zamil Industrial operating profits, on the other hand, posted an increase of 35.3 percent from SAR 108.3 million (USD 28.9 million) in 2006 to SAR 146.6 million (USD 39.1 million) as at 30 June 2007.

Post Zakat Earnings per Share grew to SAR 2.28 (USD 0.61) from SAR 2.15 (USD 0.57) representing 6 percent growth.

The financial results from April to June 2007 posted net profits of SAR 57.8 million (USD 15.4 million) compared to SAR 52.8 million (USD 14.1 million) in the same period in 2006, an increase of 9.4 percent.

Khalid Al Zamil said, ?Zamil Industrial posted outstanding results during the first half of this year while maintaining a balanced and sustainable growth throughout its four sector businesses. The company export sales have also soared 46.2 percent over the same period last year representing 41 percent of our consolidated sales.?

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