31
Oct
11:09
Increased deliveries, sales mix change lift SSP earnings
Saudi Steel Pipe (SSP)’s revenue increased 25% on-year in the third quarter to SAR 157.8 million ($37.7m). Increased volumes and a change in sales mix helped net loss narrow 42% to SAR 14.12m.
This favourable development was, however, partially offset by a decrease in share of profit in associate company Global Pipe Company (GPC) by -47% to SAR 1.31m.
Compared to Q2, moreover, revenue was down -2.5% and net loss deepened 39% due to lower sales volumes a…
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Anonymous
Very good overview of the weekly steel market.
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