26
Feb
10:38
Saudi's SSPC boosts profit, sales via GPC acquisition
Tenaris subsidiary Saudi Steel Pipe Company (SSPC) posted in 2023 a 78.5% on-year consolidated revenue increase to SAR 1.33 billion (SAR 356 million), while net profit spiked 301.9% to SAR 225m, Kallanish notes.
Gross profit in January-December soared 164.5% on-year to SAR 283m. SSPC recorded profit per share of SAR 3.42m in fiscal year 2023, up 219.6% on-year from SAR 1.07 in 2022, according to a bourse filing.
SSPC says financial expenses increa…
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Anonymous
Very good overview of the weekly steel market.
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