Middle East Economic Survey
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...