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;...