21
Mar
11:53
G5PS earnings plummet in 2022
Major Saudi Arabian pipemaker Group Five Pipe Saudi (G5PS) posted lower revenue and profit in 2022.
For the 12 months ending 31 December 2022, revenue plummeted 64.4% on-year to SAR 230.5 million ($64.47m) versus SAR 641.09m in 2021. Its revenue in 2020 was SAR 916.1m.
The company swung to a net loss of SAR 24.37m, from a net profit of SAR 35.11m a year earlier, according to a bourse filing seen by Kallanish.
Unfavourable market conditions and pri…
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Anonymous
Very good overview of the weekly steel market.
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