Safco's Profits More Than Double

Mohamed Al-Mady, CEO of Sabic and chairman and managing director of the Saudi Arabian Fertilizers Co. (Safco) says Safco's net profits for the first nine months rose to SR3.744 billion ($998.4 million), compared with SR1.466 billion in the same period in 2007. Operating profit at end of the third quarter of 2008 was SR3.57 billion, compared with SR1.415 bilion in the year-earlier period, an increase of 152%. Safco's third quarter 2008 profit rose to SR1.83 billion from SR616.2 million a year earlier and was the highest-ever reported in...

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