SABIC Posts Record $1.79Bn Profit In 2003
Saudi Basic Industries Corporation (SABIC), the Middle Easts largest petrochemicals producer, announced on 27 January that its unaudited accounts showed that 2003 profits climbed 136% over 2002 levels to a record SR6.716bn ($1.79bn). In the fourth quarter, SABIC posted a profit of SR1.961bn ($523mn). Total sales for the year were SR47.1bn ($12.56bn), increasing 39% from the 2002 level of SR34bn ($9.06bn)....
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