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Sabic’s Earnings Slip

8:57 AM MST | November 4, 2008 | Chemical Week Editorial Staff

Al Mady: Crisis having a mixed impact. Sabic has reported preliminary net profits of SR7.24 billion ($1.9 billion) for the third quarter, down 2% from the same period of last year, on sales up 20%, to SR35.6 billion. The sales increase is due to an improvement in prices for most key products, in line with increases in production and sales volumes of 4% and 3%, respectively, Sabic says. The profit figure is at the top end of analysts’ forecasts of SR6.6 billion-SR7.3 billion. The sales increase partly reflects the inclusion of the former GE Plastics, which...

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