21
Oct
13:41
Increased Q3 sales consolidate Arabian Pipe's profitability
Arabian Pipes Company (APC) saw revenue increase 39% on-year in the third quarter to SAR 97 million ($25.9m), Kallanish learns from the Saudi welded pipemaker. This helped the firm turn to a net profit of SAR 4.44m versus a loss of SAR 8.9m in Q3 2015.
Further factors boosting profit were improved productivity at APC’s Jubail plant, as well as lower selling and distribution expenses as a result of increased domestic sales at the expense of exports.
Q3 p…
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Anonymous
Very good overview of the weekly steel market.
Anonymous