21
Mar
11:21
Saudi pipemaker G5PC boosts sales, swings to profit
Saudi Arabian pipemaker Group Five Pipe Saudi (G5PS) almost doubled its sales on-year in 2023 and returned to profitability.
The company posted a 97.5% on-year increase in sales to SAR 455.3 million ($121.4m) in 2023, up from SAR 230.5m a year earlier. The pipemaker also posted gross profit of SAR 57.4m, up from SAR 2.17m in 2022, Kallanish understands.
According to a company stock exchange filing, its net profit stood at SAR 9.37m, compared to a net loss of SAR …
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Anonymous
Very good overview of the weekly steel market.
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