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Sabic Reports a Big Increase in Earnings

6:57 AM MST | January 19, 2011 | Ian Young

Sabic posted a 27% increase in net profits for the fourth quarter of 2010 compared with the corresponding period of 2009, to SR5.8 billion. Operating profits increased 29% year on year, to SR10 billion. Sales were not disclosed. Higher profits reflect "the improvement in sales prices of most petrochemicals and plastics products, as well as improved operating performance resulting in increased production and sales quantities," Sabic...

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