Advanced Building Industries Co. — Earnings Release 2008

Jul 15, 2008

ZAMIL INDUSTRIAL ANNOUNCES FINANCIAL RESULTS FOR PERIOD ENDING 30/06/2008

2240 · 15/07/2008 08:27:09 · Announcement #13401 · View on Saudi Exchange

ZAMIL INDUSTRIAL ANNOUNCES FINANCIAL RESULTS FOR PERIOD ENDING 30/06/2008

Zamil Industrial has announced its interim financials for the second quarter ending 30 June 2008 in a statement released by Khalid A. Al Zamil, Managing Director.

During the first half of the year, net profits after Zakat contributions were SAR 123.4 million (USD 32.9 million) compared to SAR 102.7 million (USD 27.4 million), representing an increase of 20.2% over the same period in 2007. This growth is attributed to an expansion of worldwide sales on the part of the company?s sector businesses.

Total turnover for the first half of this year was SAR 2,293.8 million (USD 611.7 million), a growth of 29.3% compared with same period of 2007. Shareholders? Equity also increased by 20.8% to SAR 935.2 million (USD 249.4 million).

Zamil Industrial operating profits, on the other hand, posted an increase of 17.2% from SAR 146.6 million (USD 39.1 million) in 2007 to SAR 171.9 million (USD 45.8 million) as of 30 June 2008.

Post Zakat Earnings Per Share grew to SAR 2.74 (USD 0.73) from SAR 2.28 (USD 0.60), representing 20.2% growth.

Total exports amounted to SAR 744.6 million (USD 198.6 million), representing 32% of turnover. The products of Zamil Industrial?s sector businesses are marketed and sold in more than 80 countries around the world.

The financial results from April to June 2008 posted net profits of SAR 73 million (USD 19.5 million) compared to SAR 57.8 million (USD 15.4 million) in the same period in 2007, an increase of 26.4%.

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 sector businesses, exhibiting significant growth when compared with the same period last year. Securing several major contracts contributed to this increase. We anticipate continued growth for the remainder of this year, especially when the newly announced companies begin production.?

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.