23
Jan
15:09
Reduced deliveries, increased costs deepen SSP loss
Saudi Steel Pipe (SSP) posted a -12% on-year decline in revenue in the fourth quarter of 2018 to SAR 186.3 million ($49.68m). The firm sank to a net loss of SAR 100.64m versus a SAR 15.65m profit in the year-earlier quarter.
This was despite increased net income at large-diameter pipemaking associate Global Pipe Company. It was the result of a SAR 51.99m impairment loss at subsidiary TSM Arabia, and SAR 30m provision for expected credit loss for financ…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous