Riyadh - Mubasher: Saudi Vitrified Clay Pipes Company (SVCP) reported SAR 10.7 million in net profits for 2020, an increase of 21.6% when compared to SAR 8.8 million in 2019.
The profit hike was driven by higher revenues and lower cost of goods sold, according to a bourse disclosure on Monday.
The firm’s revenues inched up by 0.65% annually in 2020 to stand at SAR 123.4 million.
