Saudia Arabia: ZIIC reports first-half 2003 net profits

Saudi glass and building materials group Zamil Industrial Investment Company (ZIIC) reported a net profit on 19 July 2003 of SAR 31.3 million (USD 8.3 million) in the first half of 2003, up 25% from H…

Saudi glass and building materials group Zamil Industrial Investment Company (ZIIC) reported a net profit on 19 July 2003 of SAR 31.3 million (USD 8.3 million) in the first half of 2003, up 25% from H1 in 2002. Earnings per share increased to SAR 5.22 from SAR 4.17. ZIIC, which also produces steel and air-conditioners, said in a statement that turnover rose to SAR 767.6 million in the first six months of 2003, up 6.7% from the same period in 2002. The figures include strong growth in export sales, which rose more than 13% to SAR 282.8 million (USD 75.2 million), making a contribution of 36.8% to the total turnover.