RIYADH: Saudi Steel Pipe Co. swung into profit during the first half of 2022, recording over SR26 million ($7 million).
The pipe producer reported a net loss of SR16.7 million in the prior-year period, according to a bourse filing.
The firm attributed its performance to an increase in gross profit to SR56.23 million over the same period, as well as a decrease in the share of loss in subsidiaries and lower administrative expenses.