Riyadh – Mubasher: The net profits of Saudi Steel Pipe Company stood at SAR 148 million in the first half (H1) of 2024, higher by 57.44% than SAR 94 million in H1-23.
The revenues amounted to SAR 987 million as of 30 June 2024, an annual leap of 86.93% from SAR 528 million, according to the initial financial results.
Additionally, the earnings per share (EPS) increased to SAR 2.10 in H1-24 from SAR 1.80 in H1-23.
Financials for Q2-24
In the second quarter (Q2) of 2024, the Tadawul-listed firm posted 17.24% lower net profits at SAR 72 million, compared to SAR 87 million in Q2-23.
Revenues witnessed a 30.74% year-on-year (YoY) surge to SAR 472 million in the April- June 2024 period, versus SAR 361 million.
Quarter-on-quarter (QoQ), the net profits in Q2-24 dropped by 5.26% from SAR 76 million in Q1-24, while the revenues fell by 8.34% from SAR 515 million.
