13
May
15:39
Arabian Pipes posts first-quarter revenue, profit jump
Riyadh-based Arabian Pipes Co (APC) posted substantial growth in its first-quarter financials due to project deliveries throughout the period. Kallanish understands the Saudi pipemaker reduced its expenses and payables and boosted retained earnings.
APC saw revenue surge by 43.8% on-year and 2% on-quarter to SAR 308 million ($82.3m) in Q1, while gross profit jumped 232.2% on-year to SAR 95.2m. Moreover, net profit spiked 376.8% on-year in Q1 to SAR 54.8m.
Earning…
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Anonymous
Very good overview of the weekly steel market.
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