Arab Steel Summit
Arab Steel Summit
Arab Steel Summit

Saudi Steel Pipe Co. records a profit of 9.58 million riyals in the third quarter

The financial results of the Saudi Steel Pipes Company “Saudi Pipes” revealed today, Thursday, its shift to profit in the third quarter after the company recorded a net profit of 9.58 million riyals, compared to a net loss of 14.12 for the third quarter of last year.

The company explained that its shift to profit is due to several reasons, including the increase in sales volume and improvement in the sales mix, in addition to the decrease in selling, marketing and distribution expenses, and the increase in the reversal of the allowance for doubtful debts.

On the other hand, she indicated, administrative expenses increased; As a result of employees’ end of service compensation, zakat and income tax expenses increased.


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About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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