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

October 26/2009
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.



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       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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