“Saudi Pipes” shares rise to the highest price in a month

The share of the Saudi company for steel pipes included in the Saudi financial market “Tadawul” by 4.79% to trade at the price of 61.20 riyals per share, achieving its highest price in a month.

The share of the Saudi steel tubes company was traded at that time through 1.01 million shares with a value of trading 60.93 million riyals.

The highest price for the share at that time was at 61.60 riyals during the session, while the lowest price for the share was at 58.50 riyals during the session of Monday, to touch the highest price in a month and 29 days.

The financial results of the Saudi company for steel pipes showed a net profit of 69 million riyals during the first quarter of the year 2025, compared to a net profit of 76 million riyals for the same period in the previous year.

The company attributed the decrease in profits to the high sales, marketing and distribution expenses, as a result of their incurred costs during the period.

On the other hand, she explained that this decline was partially mitigated by increasing other revenues and improving the total profit, which is due to the development of the sales mix and raising the efficiency of performance.

As for the revenue level, it decreased to 454 million riyals in the first quarter of this year, compared to 515 million riyals, which was registered in the same quarter of 2024, a decrease of 11.84%.

It is noteworthy that “Saudi Arabia for steel pipes”, listed in the Saudi financial market (Tadawul) since August 2009, has been working within the basic materials sector with a special focus on the steel industry. The company’s headquarters is located in Dammam, and it was founded in June 1980.