SABIC Gains SAR 6.7 Billion in 2nd Quarter of 2018

Riyadh, Saudi Basic Industries Corporation (SABIC) has gained in the second quarter of 2018 an amount of SAR 6.7 billion, compared to SAR 3.71 billion in the same period last year, a rise by 81%.

This came during a press conference held by SABIC Deputy Chairman of Board of Directors and Chief Executive Officer Yousef bin Abdullah Al-Bunyan at the company's headquarters in Riyadh in which he confirmed that such results reflect the company's ability to achieve largest returns from positive developments in international markets, helped by the transformation and restructuring initiatives implemented over the past two years as well as the continuous focus on the reliability of the performance of factories while maintaining the distinctive rates of security and safety, indicating that the increase in net profits is due to the increase in average selling prices of products and sold quantities.

Source: Saudi Press Agency