26
Jan
12:49
APC loss deepens in Q4 after earlier recovery
Arabian Pipes Company (APC)’s net loss deepened 7.65% on-year in the fourth quarter of 2015 to SAR 21.8 million ($5.8m). This represented a reversal on the previous three quarters, each of which saw losses narrow on-year after a very poor 2014.
The deeper loss in Q4 was due to a decrease in sales, as well as provision taken for inventory amounting to SAR 5m and receivable provision amounting to SAR 3m. Thanks to reduced raw materials prices, however, gross…
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Anonymous
Very good overview of the weekly steel market.
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