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26 Feb

Saudi's SSPC boosts profit, sales via GPC acquisition

Tenaris subsidiary Saudi Steel Pipe Company (SSPC) posted in 2023 a 78.5% on-year consolidated revenue increase to SAR 1.33 billion (SAR 356 million), while net profit spiked 301.9% to SAR 225m, Kallanish notes.  Gross profit in January-December soared 164.5% on-year to SAR 283m. SSPC recorded profit per share of SAR 3.42m in fiscal year 2023, up 219.6% on-year from SAR 1.07 in 2022, according to a bourse filing. SSPC says financial expenses increa…
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