07
Aug
09:21
Arabian Pipes Company turns to profit
Arabian Pipe Company (APC) reported a 15.6% on-year increase in revenue in the second quarter to SAR 191.5 million ($51.1m) and the firm turned to a net profit of SAR 8.1m versus a loss of SAR 7.9m a year earlier.
The improved performance was thanks to reduced costs on account of better raw material sourcing, access to projects, and stable output at both the Jubail and Riyadh plants.
APC’s last order was a SAR 43m ($11.47m) deal booked in July to supply…
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Anonymous
Very good overview of the weekly steel market.
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