23
Jan
15:26
Saudi Steel Pipe loss deepens in Q4
Saudi Steel Pipe (SSP) reported an 11% on-year increase in revenue in the fourth quarter of 2016 to SAR 159.09 million ($42.4m), However, net loss in Q4 deepened -1.3% to SAR 65.6m due to reduced sales prices, write down of assets and loss at an associate, SSP says.
Impairment loss in associate Chemical Development Company amounted to SAR 34.9m in Q4, in addition to a SAR 7.7m loss incurred by the same associate company. SSP also had to write-off out-of-service …
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Anonymous
Very good overview of the weekly steel market.
Anonymous