Middle East Economic Survey
VOL. LII
No 43
26-Oct-2009
SAUDI ARABIA
SABIC 3Q Results Show Profitability Rising, But Still Lower Than 2008
Third quarter 2009 net income for Saudi Basic Industries Corporation (SABIC) was double that of the second quarter, at SR3.6bn ($960mn) compared to SR1.8bn ($480mn), but remains well below 2008s third quarter earnings of SR7.24bn ($1.93bn). The profit figure indicates a steady return to previous levels of profitability, after the firm reported its first quarter...
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