22
May
11:22
Arabian Pipes loss deepens despite increased sales
Arabian Pipes Company (APC) saw revenue rise 8% on-year in the first quarter to SAR 122 million ($32.53m). However, net loss trebled to SAR 8.8m due to increased raw materials prices and delays in some project deliveries that hampered productivity at the Jubail plant.
Moreover, freight costs for exports increased and administrative costs rose as new staff were hired, according to APC.
APC recently won a SAR 261m contract to supply longitudinal submerged arc w…
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Anonymous
Very good overview of the weekly steel market.
Anonymous