SABIC Reports 15% Fall In Profits For 2012
Saudi Basic Industries Corporation (SABIC) outlined its 2012 annual results on 19 January, reporting a net income of SR24.72bn ($6.59bn) for the year ending 31 December 2012, compared with SR29.24bn ($7.85bn) for 2011. The company attributed the 15.5% net income decline to “higher cost of sales and lower sales prices for certain products, despite higher sales and production volumes and reduction in...
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