January 29 (plasteurope.com) -- Driven by high oil prices, economic growth, improved production and enhanced sales, Sabic
saw net earnings surge back in Q4 2009 to SAR 4.6 bn (EUR 860m) from
SAR 310m in the same quarter of 2008, when it booked depreciation costs
for the acquisition of GE Plastics. CEO Mohamed Al-Mady reported
“significant improvement” for engineering plastics.
Operating profit for Q4 2009 was up 359% year-on-year, the highest in
five succeeding quarters. For the full year, net profit fell 59%
year-on-year to SAR 9.1 bn, reflecting declining prices in the first
half.
mrcplast.com
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