31
Oct
10:08
Contract awards boost Saudi East Pipes financials
Saudi Arabia-based East Pipes Integrated Company (EPIC) registered significant revenue growth of 88.21% on-year in the first half of the fiscal year through March 2023 to SAR 509.10 million ($135.76m). Net profit soared 1,113.4% to SAR 15.45m, Kallanish notes.
The improved earnings are attributed to contracts signed in the previous fiscal year, and a decrease in selling, marketing and financing costs. This is despite increased average cost of the company'…
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