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Arabian Pipes logs SAR 16.8 million loss in Q3

2018-11-08 14:26:11 GMT (Economies.com)
Arabian Pipes logs SAR 16.8 million loss in Q3
 

Arabian Pipes Co. posted financial results for the third quarter of 2018, which mirrored net loss of SAR 16.8 million, against SAR 6.6 million reported in the same period a year ago, according to the company’s filing to Tadawul.

 

The company also recorded SAR 8 million operating loss, versus SAR 14.8 million operating profit for the third quarter of 2017.

 

The third-quarter losses were ascribed to an increase in raw materials globally, in addition to a delay in the delivery of some projects, which impacted costs and production of Jubail plant.

 

On the other side, revenues increased by 35% to SAR 186.2 million, from SAR 137.9 million.

 

Meanwhile, financial results for the first nine months of 2018 showed SAR 33.6 million net loss, versus SAR 7.3 million net profit in the year-ago period.

H1-18 net loss amounted to SAR 16.51 million, against SAR 0.6 million in the prior-year period.

 
 
 
  Symbol Last Change Chg.%
1.1339
0.0011
0.0962%
1.3020
0.0100
0.7721%
14.193
0.035
0.244%
56.142
-3.700
6.183%
66.07
-0.05
0.08%
1212.530
3.060
0.253%
 
 
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