05
Jul
12:44
Arabian Pipes sales surge in first quarter
Saudi Arabia’s Arabian Pipes Co. (APC) posted a 94.4% on-year surge in first-quarter sales to SAR 129.3 million ($34.5m), while net profit was SAR 1m versus a SAR 16.8m loss a year earlier, Kallanish notes.
The welded pipemaker says performance was boosted by delivered orders which were delayed in previous periods due to the Covid-19 pandemic, and a decrease in cost of goods sold, which widened gross margin. Moreover, there was a productivity improvement at …
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