21
Apr
09:43
Lower sales deepen Arabian Pipes Company Q1 loss
An on-year decline by -61% in revenue resulted in Arabian Pipes Company (APC)’s net loss deepening by -73% in the first quarter to SAR 10.95 million ($2.9m). The lower revenue came as APC was already committed to deliveries to existing customers.
The net loss in Q1 did, however, narrow by 50% from Q4 2015 thanks to improved gross profit margins as a result of the Jubail pipe mill restart in mid-February 2015. Moreover, no inventory provision was created fo…
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Anonymous
Very good overview of the weekly steel market.
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