22
Apr
01:00
Increased sales narrow Arabian Pipes Co. loss in Q1 despite expenses
Arabian Pipes Company (APC) saw first-quarter loss narrow 7% year-on-year to SAR 6.33 million ($1.69m) despite a SAR 2.2m provision for slow movement of inventory. This was also in spite of the suspension of APC’s 300,000 tonnes/year capacity Jubail pipe mill in Q4 2014 generating a SAR 7.4m loss in Q1.
Nevertheless the reduction in loss was due to an increase in output and sales which brought down fixed costs and increased gross profit 56% to SAR 16m.…
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Anonymous
Very good overview of the weekly steel market.
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