VOL. XXXVI

NO. 43

26-JULY-1993

SAUDI ARABIA

SABIC's First Half Profits Fall 13.2%

The Saudi Basic Industries Corporation (SABIC) reported a 13.2% drop in netprofits in the first half of 1993 to SR859.9mn ($229.3mn) from SR990.8mn($264.2mn) in the first half of 1992, according to the corporation's unauditedmid-year results which were announced last week. The decline in profitability inthe first half of 1993, attributed to weak petrochemical prices, follows alarger decline of 32.1% in profits in the...