Riyadh – Mubasher: Saudi Steel Pipe Company logged net profits after Zakat and tax worth SAR 54.21 million in 2022, an annual jump of 5,729% from SAR 930,000.
The Tadawul-listed firm generated revenues worth SAR 747.62 million in 2022, higher by 100.18% year-on-year (YoY) than SAR 373.48 million, according to the consolidated income statements.
Earnings per share (EPS) enlarged to SAR 1.07 last year from SAR 0.02 in 2021.
In the first nine months (9M) of 2022, Saudi Steel Pipe turned profitable at SAR 43.07 million, against net losses after Zakat and tax of SAR 640,000 in 9M-21.
Revenues soared by 127.64% to SAR 600.68 million in 9M-22, versus SAR 263.87 million during the same period in the previous year.
Meanwhile, the accumulated losses amounted to SAR 17.31 million as of 30 September 2022, which represented 3.39% of the SAR 510 million capital.
