Sabic Reports Sharp Drop in Net Profit

Sabic says net income for the quarter ended June 30, 2009 was SR1.8 billion ($480 million),  compared to SR 7.5 billion for the same quarter in 2008, a decline of 76%, and compared to a net loss of SR974 million in the previous quarter eneded March 31, 2009. The gross profit for the quarter ended June 30, 2009 was SR6.2 billion compared to SR14.8 billion for the same quarter in 2008, a decline of 58%. Income from main operations for the last quarter was SF4.1 billion compared to SR12.1 billion for the same quarter in 2008, a decline of 66%...

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