The local market first
Saudi Steel Pipe Company announced decreasing Q3 2015 revenues (-25.63% compared to Q3 2014), leading the revenues recognized since the beginning of the year to decline by 1.11%. The local revenues recorded since the beginning of the year remained almost at the same level as last year (-0.55%), contributing 93.4% of the total revenues. However, the export sales decreased by 8.32%. Despite the downward trend of the revenues, the 9M 2015 and the Q3 2015 net results increased significantly (+63.9% and +21.6% y-o-y, respectively).
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