Middle East Economic Survey

VOL. LIII

No 4

25-Jan-2010

SAUDI ARABIA

SABIC 4Q Profit Up As Market Improves

Petrochemical giant Saudi Basic Industries Corporation (SABIC) announced last week that 4Q09 net profits had jumped to SR4.58bn ($1.22bn) from SR311mn ($83mn) a year ago as the market started to improve after slumping in tandem with the global recession. Prices rose and sales increased for many of the companys petrochemical, plastic and metal products. However, net income for the full year was...