Sabic’s fourth-quarter net income rises, but full-year revenues slip

Prince Saud: Sabic will continue to grow its capacity. Sabic reported fourth quarter 2012 net income of 5.83 billion Saudi riyals ($1.55 billion). The figure is 11% higher than net income in the year-earlier quarter but 8% lower than net income in the previous quarter. Gross profit rose by about 4% year-on-year in the fourth quarter, to SR13.9 billion. Operating income for the fourth quarter of 2012 increased 7.5%, to SR10.2 billion, compared with the same period of 2011. Sabic’s net income for the whole of 2012 declined by 15.5%, to SR24.7 billion...

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