SABIC reports 46% rise in Q3 profits

18 October 2010

Saudi Basic Industries Corp (SABIC) has posted a 46% rise in third-quarter profit on higher plastic and petrochemical sales, and looked set for at least the same profit level in the fourth quarter, Reuters has reported. The world's largest chemical firm by market value made a net profit of SR5.33bn ($1.42bn) in the three months to Sept. 30, up from SR3.65bn a year earlier, and SR5.02bn in the second quarter

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