Zamil Industrial Investment Company announced consolidated earnings results for the fourth quarter and twelve months ended December 31, 2012. For the quarter, the company reported net profits of SAR 61.4 million (USD 16.4 million), compared to SAR 36 million (USD 9.6 million) during the same period in 2011, representing 70.7% increase. Operating profits were SAR 113.2 million (USD 30.2 million), compared to SAR 42.7 million (USD 11.4 million) in the same period in 2011, an increase of 165.3%. The reasons behind the better performance in the fourth quarter compared to the same period last year were due to improved operational efficiency in all sectors, improved performance from overseas operations, and enhanced asset utilization in the steel sector.

For the year, the company reported net profits of SAR 201.5 million (USD 53.7 million) compared to SAR 154.2 million (USD 41.1 million), representing an increase of 30.7% over the same period in 2011. Earnings per share increased to SAR 3.36 (USD 0.90) from SAR 2.57 (USD 0.69) in the same period in 2011. Operating profits were SAR 363.9 million (USD 97.1 million) compared with SAR 258.3 million (USD 68.9 million) for the same period in 2011, an increase of 40.9%. The reasons behind the better performance in the twelve months compared to the same period last year were due to improved operational efficiency in all sectors, improved performance from overseas operations, and enhanced asset utilization in the steel sector.