Middle East Economic Survey
SABICs 2004 Net Profits Reach $3.8Bn
Saudi Basic Industries Corporation (SABIC) announced on 19 January that its net profits for 2004 reached SR14.247bn ($3.8bn), a 113% increase over 2003, and the highest since its establishment, according to SABICs Vice Chairman and Chief Executive Muhammad Al-Mady. The companys 4Q 2004 profits reached SR5.954bn ($1.59bn). SABICs output in 2004 climbed to 42.9mn tons and total sales stood...