Saudi Steel Pipe Company Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2013
For the full year, the company reported net profit of SAR 76.4 million against SAR 53.7 million a year ago. Operational profit was SAR 79.94 million against SAR 57.65 million a year ago. Earnings per share were SAR 1.5 against SAR 1.05 a year ago. The reason for the increase in net income for twelve months compared to twelve months of last year mainly due to the increase in sales by 15.6% at SAR 839 million for twelve months compared to twelve months of last year of SAR 726 million and increase in delivered quantity where such increase in delivered quantity were attributed mainly on medium diameter pipes that has increased by 26%.