SABIC reports 84% surge in net profit to $564m

by

RIYADH: Petrochemical giant Saudi Basic Industries Corp saw an 84 percent year-on-year rise in profit to SR2.18 billion ($564 million). in the second quarter of 2024, driven by higher limits and new zakat rules. In a Tadawul statement, the company reported a 32 percent increase in gross profit to SR7.19 billion, led by improved benchmarks in core products and sales volume, even if the parts are subject to non-recurring charges. Sales increased in the Americas, fell in Europe, and stagnated in China, the Middle East, and the rest of Asia.

Leave a Comment

URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL