Saudi Arabia’s petrochemicals giant sees profits hit $2.16bn in three months up to July
Saudi Basic Industries Corporation (Sabic) has posted a 61 per cent increase in 2011 second quarter net profits compared to the same period of 2010.
The company’s second-quarter earnings hit $2.16bn, up from $1.34bn in 2010. Profits for the first half of 2011 were $4.21bn compared to $2.78bn for the same period of 2010.
The rise in profits was attributed to an increase in prices, as well as a rise in production and sales volume.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.