RIYADH, 17 July 2005 — Pipeline manufacture Saudi Arabian Amiantit lost SR16.6 million ($4.4 million) in the first half of the year but said a company restructuring brought it into profit in the second quarter. Amiantit said it lost SR18.1 million in the first quarter but turned that into a net profit of SR1.5 million in the second quarter. Shares in Amiantit, which makes water and oil pipelines for industrial, agricultural and energy clients, closed down 3.17 percent at SR413. The company has a market capitalization of around SR6.6 billion.