01
Apr
09:04
Saudi pipemaker G5PS sees earnings shrink
Saudi Arabian pipe maker Group Five Pipe Saudi (G5PS) has recorded a drop in its earnings in 2021.
During the year ending December 2021, the firm's revenue decreased by 30% on-year to SAR 641 million ($170.9m) versus SAR 916.1m in 2020. Net profit shrank by 58% to SAR 35.1m, from SAR 83m a year earlier, according to a bourse filing seen by Kallanish.
Profit per share plunged to SAR 1.25 from a year earlier's SAR 2.99
G5PS, liste…
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