Saudi Basic Industries Corp (SABIC) is expected to post a 78% drop in Q2 net profit to 1.67 billion riyals (US$445.3 mln), compared with 7.55 billion riyals in the same quarter of 2008. Lower petrocheemical prices and the enduring effects of a 2007 GE Plastic acquisition have taken their toll on the company’s performance.
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Thursday, July 09, 2009
SABIC expects to see a drop of 78% in Q2 net profits
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