Sabic reports 11% rise in fourth quarter net income but full year result is down

Sabic today reported an 11% rise in fourth quarter 2012 net income to SR5.83 billion ($1.55 billion) compared with the year-earlier quarter but an 8% slide on the third quarter net result of SR6.31 billion.  Gross profit in the fourth quarter rose by close to 4% to SR13.88 billion. Income from operations for the quarter ended 31 December 2012 increased by 7.5% to SR10.22 billion compared with the same period of 2011. Sales were not disclosed.    Sabic’s net income for the whole of 2012 declined by 15.5% to SR24.72 billion. Earnings per share...

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