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Regions :: Middle East
Sabic reports higher third-quarter results, says next year could be better
2:14 PM MDT | October 28, 2013 | Natasha Alperowicz
Sabic said today that its third-quarter net profit rose 2.5%, to 6.47 billion Saudi riyals ($1.73 billion), on sales 9% higher, at SR48.8 billion. Operating profit was 14.3% higher, at SR11.27 billion. Net profit in the third quarter rose 7% compared with the second quarter, while operating profit in the third quarter was 13% higher. The company cites increased volumes, favorable prices for certain products, and lower financial charges for the improved performance. Sabic’s net profit and sales in the first nine months of this year were flat, at...
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