10
Aug
17:31
APC profit falls on delivery delays, costlier inputs
Arabian Pipes Company (APC) reported a 15% on-year increase in net sales in the second quarter to SAR 121 million ($32.3m). Nevertheless, net profit fell -72% to SAR 3.12m due to lower sales prices of some contracts, higher prices of raw materials and some delayed deliveries.
The net profit did, however, compare to a SAR 2.5m loss in Q1. The quarter-on-quarter improvement was due to increased shipments and lower operating expenses, Kallanish learns from the…
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Anonymous
Very good overview of the weekly steel market.
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