28
Apr
09:20
Tenaris Saudi joint venture’s first-quarter earnings shrink
Tenaris subsidiary Saudi Steel Pipe Company (SSPC) reported in the first quarter a 9.34% on-year revenue decrease but an increase by 13.5% on-quarter to SAR 166.89 million ($44.5m), Kallanish notes.
Gross profit in January-March inched down 17.6% on-year despite an uptick of 16% on-quarter to SAR 23.86m. SSPC recorded net profit of SAR 6.37m in Q1, down 56% on-year and 43% on-quarter, according to bourse filing.
Q1 Ebitda shrank 46% on-y…
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Anonymous
Very good overview of the weekly steel market.
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