October, 26 (plasteurope.com) -- 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.
mrcplast.com
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