Zamil Industrial Investment Company (Zamil Industrial) has announced its interim financial results for the period ending 31 March 2012:
1. Net profits for the first quarter of 2013 were SAR 62.7 million (USD 16.7 million), compared to SAR 37.5 million (USD 10 million) during the same period in 2012, representing an increase of 67.1 percent, and compared to SAR 61.4 million (USD 16.4 million) posted in the previous quarter (Q4) a growth of 2.1 percent.
2. Gross profit for the first quarter of 2013 were SAR 299.8 million (USD 80 million), compared to gross profit of SAR 240.6 million (USD 64.2 million) for the same period in 2012, an increase of 24.6 percent.
3. Operating profits during the first quarter were SAR 97.2 million (USD 25.9 million) compared to SAR 70.8 million (USD 18.9 million) in the same period in 2012, an increase of 37.2 percent.
4. Earnings Per Share grew to SAR 1.04 (USD 0.28) from SAR 0.63 (USD 0.17) in the same period in 2012.
5. The reasons behind the better performance in the first quarter compared to the same period last year were due to increase in sales and improved operating margins in the Air Conditioning, Steel and Concrete sectors in Saudi and abroad.
6. The reasons behind the better performance in the first quarter of 2013 compared to the fourth quarter of 2012 were due to reduction in expenses and Zakat provisions.
7. Certain figures for the first quarter of 2012 have been reclassified to conform with the presentation in the current period.
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