06
May
16:37
SSP changes first-quarter sales mix, boosts sales
Saudi Steel Pipe Company (SSP) increased revenue 4.8% on-year in the first quarter to SAR 195.3 million ($52.1m) and turned to a net profit of SAR 320,000 versus a year-earlier loss of SAR 5.04m.
The improved profitability was due to SSP’s share of profit in associate Global Pipe Company (GPC) amounting to SAR 3.1m versus a year-earlier loss of SAR 8.2m. There was also a reversal of impairment for receivables amounting to SR 0.63m.
Despite the revenue g…
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Anonymous
Very good overview of the weekly steel market.
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