Riyadh – Mubasher: Arabian Pipes Company (APC) incurred SAR 3.4 million worth of losses in the third quarter (Q3) of 2020, compared with profits of SAR 9.2 million in the same quarter in 2019, as sales slumped.
Revenue for the July-September period stood at SAR 162 million, an annual decline of 22.97%, according to a bourse disclosure on Wednesday.
During the first nine months of 2020, the company swung to net losses of SAR 39.1 million, against net earnings of SAR 25.4 million in the year-ago period.
