07
Nov
10:45
SSPC posts third-quarter earnings improvement
Dammam-based Saudi Steel Pipe company registered a third-quarter revenue increase of 55% on-year to SAR 317.5 million ($84.65m) but this was down 12.2% versus Q2.
The company clocked up a net profit of SAR 37.9m in Q3 versus a net profit of SAR 16.8m in Q3 2022 and SAR 87.5m in Q2 2023, according to the pipemaker's earnings report seen by Kallanish.
The third-quarter profit shrink was due to the additional stake – of 22.27% – acqui…
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Anonymous
Very good overview of the weekly steel market.
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