VOL. XLII

No. 30

26-July-1999

SAUDI ARABIA

SABIC Reports Net Profit Of $130Mn For First Half 1999

The Saudi Basic Industries Corporation (SABIC) has reporteda net profit of SR488mn ($130mn) for the first six months of 1999, compared toearnings of SR1.342bn ($358mn) for the first half of 1998, a decline of 63%.The second quarter 1999 profit of SR264mn ($70.4mn) was 18% higher than theearnings for the first quarter of the year, which amounted to SR224mn($59.72mn). SABIC attributed the improvement...