21 February 2012
Further to the announcement by Zamil Industrial Investment Company (Zamil Industrial) posted on Tadawul (21/02/2012) of its consolidated annual financial results for the year ending 31 December 2011, the company would like to clarify to its shareholders and the public that in addition to the reasons stated in the earlier announcement, Operating Profits decline was due to increased Selling & Distribution Expenses and General & Administration Expenses which was a consequence of the consolidation of RANCO & Zamil Concrete Industries Co. Ltd. and Gulf Insulation Group Company as of 1st January 2011. Furthermore, the company also recorded a permanent foreign exchange translation loss on consolidation.
Further to the announcement by Zamil Industrial Investment Company (Zamil Industrial) posted on Tadawul (21/02/2012) of its consolidated annual financial results for the year ending 31 December 2011, the company would like to clarify to its shareholders and the public that in addition to the reasons stated in the earlier announcement, Operating Profits decline was due to increased Selling & Distribution Expenses and General & Administration Expenses which was a consequence of the consolidation of RANCO & Zamil Concrete Industries Co. Ltd. and Gulf Insulation Group Company as of 1st January 2011. Furthermore, the company also recorded a permanent foreign exchange translation loss on consolidation.
© Tadawul 2012
