01
Apr
13:14
APC hikes sales but sinks to loss
Arabian Pipes Company (APC) reported a 25% on-year surge in revenue in 2018 to SAR 698.3 million ($186.2m), but the firm turned to a net loss of SAR 122.6m versus a SAR 5.2m profit a year earlier.
The loss was due to destocking that resulted in losses of over SAR 44m, increased global raw materials prices that increased costs, and delayed raw materials deliveries that affected project completion and shipments. Also among the reasons behind the loss were higher f…
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Anonymous
Very good overview of the weekly steel market.
Anonymous