05
Nov
11:44
SSP ramps up output post lockdown, improves profitability
Saudi Steel Pipe (SSP) saw revenue inch down -1% on-year in the third quarter to SAR 156.6 million ($41.76m). However, the firm turned to a SAR 9.6m net profit versus a year-earlier loss of SAR 14.1m thanks to higher volumes and improved product mix, Kallanish notes.
The welded pipemaker ramped up its operations in Q3 after lockdown measures imposed during Q2 were lifted on Qatif and Dammam 2nd Industrial City, where the company’s facilities are located…
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Anonymous
Very good overview of the weekly steel market.
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