reports
The year announces to be tough
Saudi Steel Pipe’s figures are going down. The company announced a declining Q1 2016 net profit by 29.45% y.o.y to SAR8.05m. The gross profit stood at an almost constant level as Q1 2015 (-0.44% to SAR29.11m). The operating profit has witnessed a 10.27% drop y.o.y, amounting to SAR13.1m.
Modest growth
Saudi Steel Pipe has gone through a difficult Q4 2015 as the loss it has registered amounts to SAR-1.300M vs. SAR5.300M in Q4 2014. On a yearly basis, the company recorded an increasing net result by 36.22% to SAR40.05M. Moreover, all of the company's profit indicators followed the net income's trend, as the gross profit moved from SAR97.24M, in 2014, to SAR101.18M in 2015, and the operational profit grew by 2.29% to SAR46.52M.
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% ...
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