Arabian Pipes Company announced earnings results for the fourth quarter and year 2013. For the fourth quarter, the company posted a net profit of SAR 37.9 million, compared with a net loss of SAR 19.2 million in 2012.

For the year, the company booked a net profit of SAR 9.7 million (USD 2.6 million/EUR 1.9 million) recovering from a net loss of SAR 25.4 million in 2012. The company explained the positive performance with the SAR 56 million extraordinary gain from the divestment of its stake in Industrialization and Energy Services Co (TAQA), in October 2013.