Zamil Industrial said its net profit during the first half of the year increased 20.2 per cent to SR123.4 million ($32.9 million) when compared to SR102.7 million ($27.4 million) in the same period last year.

Announcing the company's interim financials for the second quarter ending June 30, 2008, Zamil Industrial managing director Khalid A. Al Zamil said the total turnover for the first half of this year grew 29.3 per cent to SR2,293.8 million ($611.7 million) when compared to the same period last year.

Zamil Industrial operating profits saw an increase of 17.2 per cent from SR146.6 million ($39.1 million) in 2007 to SR171.9 million ($45.8 million) as of June 30, 2007.

Post Zakat Earnings per Share grew to SR2.74 from SR2.28, representing 20.2 per cent growth.

Total exports amounted to SR744.6 million ($198.6 million), representing 32 per cent of turnover. The products of Zamil Industrial’s sector businesses are marketed and sold in more than 80 countries around the world.

Zamil attributed the company's growth to an expansion of global sales on the part of the company’s sector businesses.

"Zamil Industrial posted outstanding results during the first half of this year while maintaining a balanced and sustainable growth throughout its all 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," he added.-TradeArabia News Service