Saudi Arabia’s Group Five Pipe Saudi Company reported a 14.3pct YoY increase in net profit to SAR 143.1 mln (USD 38 mln) in the first half of 2026, supported by lower production costs per ton.
Revenue increased 2.5pct YoY to SAR 945.2 mln (USD 252 mln) in H1 2026 from SAR 922.3 mln a year earlier, mainly due to higher sales volumes and average selling prices per ton.
Based in Dammam, Group Five Pipe operates five production lines with a combined annual capacity of 700,000 tons, producing spiral welded pipes for regional markets. The company plans to expand capacity by 350,000 tons, targeting over 1 mln tons per year by January 2027.
1 USD / 3.75 SAR