Giving up?
In Q3 2016, Zamil’s revenues amounted to SAR1.106bn, a significant 17.30% yoy decrease that brought revenues recorded since the beginning of the year to SAR3.751bn (-7.05% yoy). The cost of sales, in accordance with the company’s cost-cutting strategy, declined by 19.5% to SAR829.467m (vs. SAR1.030bn in Q3 2015), leading the gross margin to improve by 204 bps to 25.05%. The net income, however, worsened by 30.2% to SAR40.098m.Zamil Industrial Investment is an industrial manufacturing group based in the Kingdom of Saudi Arabia. Co. and its subsidiaries are engaged in manufacturing and erecting steel buildings, transmission line towers and structural steel products; manufacturing and assembling room and central air conditioners and other related activities; and production glass and mirrors. Co.'s operations are organized along three main business sectors: Zamil Air Conditioners, Zamil Steel Industries and Zamil Glass Industries. Co. operates predominantly in Saudi Arabia.
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