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SABIC announced 9.8% net profit decrease in Q4 2011

February 01/2012

(chemmonitor) -- Saudi Basic Industries Corporation (SABIC) announced results for the 4th quarter 2011 and fiscal year 2011. The net income in Q4 2011 amounted to Saudi Riyals (SAR) 5.24 billion. It is 9.8% lower in comparison to the same period last year. Moreover, this figure is much lower SAR 7.4 billion expected by analysts.

Sales increased, but the lower prices for most of companys products led to the net profit decrease. The gross profit in Q4 2011 reached SAR 13.38 billion, a 3% year on year increase.

SABIC announced 9.8% net profit decrease in Q4 2011

Saudi Basic Industries Corporation is the worlds biggest petrochemical company by market value and one of the worlds leading manufacturers of chemicals, performance chemicals, fertilizers, plastics and metals.

Its product portfolio includes ethylene, propylene, butadiene, MTBE, styrene monomer, benzene, paraxylene, caustic soda, acetone, phenol, methanol, etc. The company has operations in more than 25 countries and over 33,000 employees worldwide.

SABIC is traded on the Saudi Stock Exchange (Tadawul) under the ticker symbol 2010.

Author:Anna Larionova
Tags:benzene, paraksilol, propylene, styrene, ethylene, min.udobreniya, Sabic.
Category:General News
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