Zamil: third-quarter profit down

Zamil Industrial reported on 19 October 2009 a 34.1% year-on-year decrease in net profit to SAR 53.8 million (USD 14.3 million/EUR 9.6 million) for the third quarter of 2009.
According to the Saudi m…

Zamil Industrial reported on 19 October 2009 a 34.1% year-on-year decrease in net profit to SAR 53.8 million (USD 14.3 million/EUR 9.6 million) for the third quarter of 2009. According to the Saudi manufacturing group, the decrease was attributed to lower sales prices of its products. Third-quarter operating profit decreased 30.4% to SAR 77 million and gross profit was SAR 218.8 million, down from SAR 269.1 million. The company also reported a 19% decrease in the net profit to SAR 166.1 million for the nine months ended 30 September 2009. Operating profit dropped 14.8% to SAR 240.7 million and gross profit was SAR 677.4 million, down 7.1% year-on-year.