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Arab Pipes Q2 profits fall 50.8%
Integrated Middle East Pipes Company (IMEC) recorded a decline in its net profits during the second quarter of its fiscal year ending September 30, 2026, decreasing by 50.82% year-over-year to 77.99 million SAR, compared to 158.58 million SAR in the same period of the previous year. Revenues also dropped by 39.6%, reaching 344.84 million SAR, down from 570.87 million SAR in the second quarter of last year. Over the first six months, profits declined by 19.26% to 200.91 million SAR, while revenues decreased by 9.47% to 865.5 million SAR. This decline is mainly attributed to reduced sales volume and increased shipping and insurance costs for raw materials.
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