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SABIC third-quarter net profit up 47%

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SABIC third-quarter net profit up 47%

 

 

 

Saudi Basic Industries Corp (SABIC) 2010.SE, the world’s 4th-biggest petrochemicals firm, reported a 47% rise in third-quarter profit, beating estimates on higher sales and output, but warned it still faces price pressures for some time to come.

 

 

SABIC reported a net profit of 1.09 billion riyals ($291 million) in the quarter that ended on September 30, up from 740 million riyals in the same period a year earlier. The result came after three straight quarters of losses, on a jump in impairment charges and drop in sales.

 

 

 


 

 

Reuters

 

 

 

 

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