Saudi Steel Pipes Company, a producer of steel pipes, reported a net profit of SAR 147 million for the first nine months of 2025, down from SAR 158 million during the same period in 2024.
The company attributed the profit decline to the following factors:
- Lower revenues, resulting from decreased sales volumes. Despite this decline, the company maintains a strong backlog of orders, which is expected to be executed and positively impact financial results in the upcoming periods.
- Reduced gross profit, due to the lower sales volumes and changes in the sales mix.