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Sabics Q3 2009 profits fall 50% year-on-year

October 26/2009
October, 26 ( -- Sabic (Riyadh/Saudi Arabia) has reported net profit in the third quarter of 2009 down 50% year-on-year at SAR 3.6 bn (EUR 640m). The company said the fall was due to the sharp decline in the global prices of petrochemical, plastic and metal products as a result of the global recession and economic crisis.

However, the profit was double that reported in the previous quarter thanks to a steady rise in prices as a result of improved demand. Operating profit in the third quarter was SAR 6.4 bn, down from SAR 12.5 bn in the same period of 2008.        

       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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