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FINANCIAL NEWS
Saudi Sabic profit down by 4.58pct
23 Jan 2017
(MENAFN) Saudi Basic Industries Corp, pioneering petrochemicals groups posted a net profit of USD4.77bn for 2016, compared to USD5bn in 2015, a fall of 4.58 percent.
Moreover, the net profit for the cited period reached SR4.55bn compared to SR3.08bn for the same period in 2015, an increase of 47.73 percent.
Fourth quarter operating profit reached SR7.29bn, compared to SR4.36bn last year, an increase of 67.2 percent.
In addition, gross sales for the recent quarter are SR34.03bn compared to SR34.16bn for the similar quarter last year.
M
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