04
Nov
09:27
TenarisSaudiSteelPipes sales drop, profit up on divestment
Welded pipemaker TenarisSaudiSteelPipes (SSP) saw revenue inch down 5.8% on-quarter and 44.5% on-year to SAR 83.3 million ($22.2m) in the third quarter. The company recorded net profit of SAR 15.92m versus a net loss of SAR 8.08m in Q2.
The higher profit was a result of the sale of the main operating assets of the company’s wholly-owned subsidiary, Titanium Steel & Manufacturing Co, a decrease in administrative expenses and lower zakat and income ta…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous