Arabian Pipes Company Announces Earnings Results for the Fourth Quarter and Year 2013
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.