VOL. XLIII

No. 07

14-February-2000

SAUDI ARABIA

SABIC Registers Net Profit Drop Of SR109Mn In 1999

Saudi Basic Industries Corporation (SABIC) has announced a net profit of SR1.911bn ($509.5mn) for 1999, compared with SR2.02bn ($538.7mn) the previous year, a drop of SR109mn ($29.1mn), or 5.7%. A statement from the Minister of Industry and Electricity, Dr Hashim Yamani, who is also Chairman of SABIC, said the company had been able to attain higher levels of performance in production, marketing and...