VOL. XXXI
NO. 32
16-MAY-1988
SAUDI ARABIA
SABIC's Net Income Surges In 1987
The Saudi Basic Industries Corporation (SABIC) posted a record net income ofSRl,078bn ($287mn) in 1987, as compared with the previous record of SR224mn($60mn) in 1986, according to the corporation's consolidated 1987 results.According to the Board of Director's report, SABIC's outstanding profitperformance last year was attributed to the following factors: (a) generalreduction in production costs, especially fixed costs;...
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