SABIC third-quarter net profit up 47% as sales volumes rise, some impairments reversed

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Saudi Basic Industries Corp (SABIC) , the world's 4th-biggest petrochemicals firm, reported a 47% rise in third-quarter profit, beating estimates on higher sales and output, but warned it still faces price pressures for some time to come.

FILE PHOTO: A man walks past the headquarters of Saudi Basic Industries Corp in Riyadh, Saudi Arabia October 27, 2013. REUTERS/Faisal Al Nasser/File Photo, the world's 4th-biggest petrochemicals firm, reported a 47% rise in third-quarter profit, beating estimates on higher sales and output, but warned it still faces price pressures for some time to come.

Still SABIC cautioned that supply still exceeds demand for its key products, which will continue to pressure product prices and margins for the foreseeable future.

 

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Down is near.

God bless you sir!!! You are indeed a God sent to planet earth,I never believed in heruntil I got my 4th payout MR_fred_wilson

ifb

The attack on the Islamic peoples by insulting the Prophet Muhammad, the greatest prophet in history is a barbaric, degenerate and unjustified attack that will lead to an interfaith conflict again. I believe that Macron should be tried in the International Court of Human Rights.

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