Middle East Economic Survey

VOL. LIII

No 30  

26-Jul-2010

SAUDI ARABIA

SABIC Reports Sharp Rise In Income In 1H10

Saudi Basic Industries Corporation (SABIC) has released consolidated results for the first six months of 2010, reporting a net income of SR10.45bn ($2.79bn), a 1,159% increase over the figure for last year SR0.83bn ($0.22bn). The company’s gross operating profit rose by 144% compared with the first six months of 2009, from SR9.84bn ($2.62bn) to SR24.05bn...