Riyadh – Mubasher: Arabian Pipes Company has achieved a net profit of SAR 9.2 million over the third quarter of 2019, against a net loss of SAR 16.8 million in the corresponding quarter in 2018.

The profits of the period are not only attributed mainly to higher sales and lower costs, as the firm was able to better control raw materials prices, but also to continuous and stable productivity in Riyadh and Al Jubail plants.    

Over the period from January to September 2019, the net profits totalled SAR 25.4 million, against losses of SAR 33.7 million a year earlier, according to a bourse filing on Tuesday.

It is worthy to remark that during the second quarter of 2019, Arabian Pipes recorded profits worth SAR 8.1 million, against SAR 7.9 million worth of losses in Q2-18.