21
Jul
01:00
Jubail mill restart narrows Arabian Pipes Co. loss in Q2
Arabian Pipes Company (APC) saw net loss narrow 40% on-year in the second quarter to SAR 8.4 million ($2.24m) due to the resumption of output at its Jubail pipe mill which reduced fixed cost. Lower raw materials prices also aided the loss reduction, which was done despite lower revenue, APC says in a report seen by Kallanish.
The lower revenue did, however, mean that net loss in Q2 was 32.7% deeper than the previous quarter. Sales from the Jubail and Riyadh …
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