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Arabian Pipes turns profitable in H1

Arabian Pipes turns profitable in H1
The company achieved SAR 8.1 million in profits during Q2-19
APC
2200
0.14% 14.04 0.02

Riyadh – Mubasher: Arabian Pipes Company reported its interim financial results for the second quarter of 2019.

The company achieved SAR 8.1 million in profits during Q2-19, against losses of SAR 7.9 million in Q2-18, according to a bourse filing on Tuesday.

Total revenues rose by 15.5% to SAR 191.5 million during the three-month period between April and June, from SAR 165.7 million in the same quarter a year ago.

For the first half of 2019, Arabian Pipes posted SAR 16.2 million in profits, versus net losses of SAR 16.8 million in H1-18.

The Saudi-based company generated SAR 371.6 million in revenues in H1-19, up 29.1% from SAR 287.7 million in the same period of the prior year.