Middle East Economic Survey
VOL. XLVIII
No 30
25-July-2005
Saudi Arabia
SABIC Profits Up 84% In First Half 2005
Saudi Basic Industries Corporations (SABIC) net profits rose 84% to SR9.84bn ($2.6bn) in 1H05. The increased profitability reflected improved marketing performance coupled with the rise in global prices of manufactured products, CEO Muhammad al-Mady said. SABIC profits for 2Q2005 were SR4.76bn ($1.3bn), down from SR5bn ($1.33bn) achieved in 1Q05 due to a slight drop in petrochemical...
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