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Sabic to triple Q2 2010 profit

July 13/2010

(Bloomberg) -- Saudi Basic Industries Corp., the worlds biggest petrochemicals maker, may have seen second quarter profit more than triple after demand for plastics recovered in a strengthening global economy.

 

Sabic will report 5.8 billion riyals ($1.6 billion) in net income after 1.8 billion riyals in the same quarter last year, according to Bloomberg. Sabic traditionally releases quarterly results within a month after the end of a quarter.

 

A global economic recovery is helping Sabic overcome last years slump, when sales of its automotive, construction and consumer products weakened. The companys U.S. plastics business is improving as demand for materials needed to make automobiles and electronic goods increased.

 

mrcplast.com

Sabic to triple Q2 2010 profit

MRC Reference

Sabic. The share in the Russian market in 2008:
 PE 0.2%;
 PP - 0.4%;
 PS 0.2%.

Annual sales growth in Russia over the last 5 years:
 PE - 33%;
 PP 62%

 

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