SABIC's Profits Surge in First Half 1987
The Saudi Basic Industries Corporation (SABIC) announced a six-fold increase in net profits in the first half of 1987 to SR348.9mn ($93.0mn), compared to SR58.1mn ($15.5mn) in the first half of 1986. According to SABIC's Vice Chairman and Managing Director, Mr. Ibrahim ibn Salamah, the increase in profits was due to "healthy world prices for petrochemicals and improved internal efficiencies, which have helped to reduce...
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