07
May
10:37
Arabian Pipes Company profitability recovers
Arabian Pipes Company (APC) reported a 48% on-year increase in revenue in the first quarter to SAR 180 million ($48m) and it turned to a SAR 8.1m net profit versus a year-earlier loss of SAR 8.8m.
Performance was boosted by APC securing projects and stable production at both the firm’s Riyadh and Jubail pipe mills.
The net profit was also compared to a SAR 89m loss in Q4 2018, incurred due to delayed project completion and late raw materials delive…
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Anonymous
Very good overview of the weekly steel market.
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