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FINANCIAL NEWS
SABIC net profit down by 25%
30 Jul 2017
(MENAFN) Saudi Basic Industries Corp (SABIC), which is considered the world’s fourth-biggest petrochemicals company, stated that it has witnessed a decrease by 25% in Q2 net profit.
The Saudi Arabia Company revealed that it has gained a net profit of 3.71 billion riyals in the April-June period, compared with 4.96 billion riyals in Q2 of 2016.
On the other hand, SABIC stated that this decline was mainly derived by increasing cost of sales and lower sales quantities.
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MENAFN3007201700450000ID1095670614
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