22
Aug
07:46
APC second-quarter revenue soars, profit jumps
Riyadh-based Arabian Pipes Co. (APC) saw revenue increase by 15.2% on-quarter and 278.6% on-year in the second quarter to SAR 265 million ($70.6m). Net profit was SAR 33.2m versus a SAR 13.3m profit in Q1 and SAR 4.2m net loss a year earlier.
The company was able to win numerous projects which brought continuity and stability in production, thereby reducing costs and increasing revenue and profit, says APC in a bourse filing seen by Kallanish.
The compa…
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