30
Oct
14:08
Saudi pipemaker third-quarter revenue surges on increased shipments
Arabian Pipes Co. (APC) reported a 41% on-year rise in net sales in the third quarter to SAR 137 million ($36.5m), while net profit surged 50% to SAR 6.6m. This was thanks to an increase in shipments and came despite higher raw material costs, the Saudi pipemaker says. It does not provide tonnages.
The net profit in Q3 was also up 113% on Q2 thanks to increased shipments and lower operating expenses.
This represents a marked improvement on Q2 when net sales a…
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