Middle East Economic Survey

VOL. LIII

No 29

19-Jul-2010

SAUDI ARABIA

SABIC Subsidiaries Post Year-on-Year Profit Gains

Two subsidiaries of Saudi Basic Industries Corporation (SABIC) have announced preliminary financial results for the first six months of 2010, with both showing marked improvements in realized net profit earnings compared to the same period last year. Saudi Arabian Fertilizer Company (SAFCO) saw its net profit over the six month period amount to SR1.605bn ($428mn), a 60% increase...