Saudi Steep Pipe's net profit zooms more than 5,700% to $14.45m in 2022

RIYADH: Saudi Steel Pipe Co. has reported that its net profit after zakat and tax increased to SR54.2 million ($14.45 million) in 2022 from SR930,000 in 2021 – an astronomical surge of 5,729 percent. According to a statement to Tadawul, gross profit rose to SR107.16 million in 2022 from SR27.33 million a year earlier because of better sales volume, improved efficiency and a

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