24
Jan
12:34
Arabian Pipes Company turns profitable in 2016
Arabian Pipes Company (APC) reported a 31% on-year increase in revenue in the fourth quarter of 2016 to SAR 101 million ($26.9m), Kallanish learns from the Saudi welded pipemaker. This helped net loss narrow 98% to just SAR 0.36m.
Also supporting profitability were increased productivity at APC’s Jubail plant, and lower selling and distribution expenses due to lower freight charges resulting from reduced export sales.
In full-year 2016 APC’s …
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Very good overview of the weekly steel market.
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