09
May
15:50
Saudi Steel Pipe revenue slumps, profit rises
Saudi Steel Pipe (SSP) saw revenue fall -30.3% on-year in the first quarter to SAR 135.35 million ($36.09m) due mainly to reduced project-based deliveries and lower shipments of commercial pipe. Net profit, however, rose 19.8% to SAR 10.21m due to improved performance at affiliate Global Pipe Company and subsidiary TSM Arabia.
Last month SSP completed the buyout – initially agreed in February 2016 – of South Korean partner TSM Tech Company …
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Anonymous
Very good overview of the weekly steel market.
Anonymous