10
Aug
08:41
Tenaris Saudi subsidiary reports ballooning second-quarter earnings
Tenaris subsidiary Saudi Steel Pipe Company (SSPC) more than doubled its financials in the second quarter versus Q1, and achieved remarkable results in the first half, notes Kallanish.
The company reported a Q2 revenue increase of 116.54% on-quarter and 70.6% on-year to SAR 361.38 million ($96.36m).
Gross profit in April-June spiked 288% on-quarter and 239% on-year to SAR 92.58m. According to a bourse filing, SSPC recorded a net profit …
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Very good overview of the weekly steel market.
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