Middle East Economic Survey
VOL. LII
No 31
3-Aug-2009
SAUDI ARABIA
SABIC Returns To Profitability In 2Q09
Saudi Basic Industries Corporation (SABIC) returned to profitability in the second quarter of this year, after reporting a first quarter loss its first in several years as its overseas operations were hit heavily by the global recession (MEES, 27 April). However, 2Q09 profit at SR1.8bn ($480mn) was still down 76% on 2Q08s figure. The first quarter loss primarily resulted from writedowns on...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!