SABICs Net Profit Declines 51% in First Nine Months Of 1998
The Saudi Basic Industries Corporation (SABIC) in the first nine monthsof 1998 reported a 51% decline in net profit to SR1.742bn ($464mn) from SR3.578bn ($954mn)in the corresponding period of 1997. In the first six months of 1998 net profit fell 42%to SR1.342bn ($358mn). Net profit in 1997 was SR4.6bn ($1.23bn), a 4.5% increase over1996. According to SABICs Vice Chairman and Managing...