SABIC's profits fall by 4.58% in 2016

SABIC’s profits fall by 4.58% in 2016

Thursday 1438/4/21 – 2017/01/19

Riyadh, Rabi’II 21, 1438, January 19, 2017, SPA — The net profits of Saudi Basic Industries Corporation (SABIC) fell in 2016 by 4.58% up to SR 17.91 billion compared with SR 18.77 billion in 2015.
The corporation gained net profits of SR 4.55 billion in the current quarter compared with SR 3.08 billion in the same quarter of last year, up to 47.73%, and declining of 12.84% from the previous quarter, and profits reached during this period SR 5.97 compared with SR 6.26 per share .
SABIC” attributed this decline to many reasons including the decline of sales costs and general and administrative expenses.
–SPA
13:11 LOCAL TIME 10:11 GMT