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.
