Saudi Arabian Amiantit Co.’s pipe segment recorded quarterly losses for the first time in nine years for the fifth consecutive quarter, data compiled by Argaam showed.
Amiantit’s pipe segment alone swung to a net loss of SAR 21.9 million. Revenue from pipe sales dropped 32 percent year-on-year to SAR 433.3 million in Q3 on lower demand slow construction activities and Eid Al-Adha holiday.
Elsewhere, the water management segment widened its Q3 losses by 45 percent YoY to SAR 11 million hurt by a 22 percent YoY fall in sales.
|
Pipe Segment Performance (SAR mln) |
||||
|
Growth/decline |
Net income/loss |
Growth/decline |
Revenue |
Period |
|
(163%) |
(21.9) |
(32%) |
433.3 |
Q3 2016 |
|
(83%) |
5.2 |
(17%) |
544.2 |
Q2 2016 |
|
(63%) |
11.8 |
(12%) |
582.0 |
Q1 2016 |
|
(21%) |
29.2 |
(5%) |
588.8 |
Q4 2015 |
|
+60% |
34.7 |
+9% |
641.4 |
Q3 2015 |
|
(11%) |
31.2 |
(6%) |
652.3 |
Q2 2015 |
|
+48% |
31.9 |
+8% |
664.0 |
Q1 2015 |
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