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...
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