East Pipes Integrated Company for Industry reported net profit of SR200.91 million for the first half of its 2026/27 financial year, down from SR248.85 million a year earlier, as delays in raw material deliveries cut sales.
Revenue fell to SR866 million in the six months ended September 30 from SR956 million in the same period a year earlier, the Saudi steel pipe maker said in results reported by Argaam on Wednesday.
The company said lower sales volumes followed delays in raw material deliveries amid prevailing geopolitical conditions, which reduced production.
Second-quarter net profit fell 50.8% to SR77.99 million from SR158.58 million a year earlier.
Quarterly revenue dropped to SR345 million from SR571 million.
Higher shipping and insurance costs for raw materials also weighed on profitability, the company said.
Compared with the first quarter, net profit fell 36.5% from SR122.92 million, and revenue declined from SR521 million.
Shareholders’ equity stood at SR1.64 billion at September 30, up from SR1.30 billion a year earlier.
The board approved on October 21 a cash dividend of SR2 a share, or 20% of the share’s nominal value, for the first half of 2026/27.
East Pipes shares trade on the Saudi Exchange.
