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Sabic reports higher fourth-quarter and full-year earnings

11:01 AM MST | January 19, 2014 | Natasha Alperowicz

Sabic on Sunday reported a 5.7% increase in fourth-quarter net profit, to 6.16 billion Saudi riyals ($1.64 billion). Gross profit was 1% higher, at SR13.82 billion, while operating profit was flat, at SR10.3 billion. Fourth-quarter net profit was down 5% compared with the third quarter of 2013, and operating profit was 9% lower. For the whole of 2013, Sabic reports a 2% increase in net profit, to SR25.23 billion, a 4% rise in gross profit, to SR55.31 billion, and a 4% increase in operating profit, to SR42.59 billion. Earnings per share for the full year were...

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