01
Aug
12:25
Arabian Pipes turns to profit in Q2
Arabian Pipes Company (APC) turned to a net profit in the second quarter of SAR 11.17 million ($2.98m) versus a loss in Q2 2015 of SAR 8.4m. This was also up from a loss of SAR 10.95m in Q1 2016.
The improved performance was thanks to increased sales and gross profit margin as a result of increased productivity as APC’s Jubail plant. Moreover, sales of slow-moving stock led to a reduction in inventory provision.
APC thus reported net profit of SAR 0.23m…
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Anonymous
Very good overview of the weekly steel market.
Anonymous