Middle East Economic Survey
SABIC Realizes $5.4Bn Record Profits In 2006
Saudi Basic Industries Corporation (SABIC) announced on 21 January it had achieved a record 2006 net profit of SR20.3bn ($5.4bn), up by 6% on the SR19.2bn ($5.1bn) achieved in 2005. SABICs total operating profits amounted to SR35.3bn ($9.4bn), up by 7% over the SR33.1bn ($8.8bn) achieved in 2005. The total production of SABICs manufacturing complexes reached 49.1mn tons in 2006, up by 5%...