1997 News Story

SABIC reports profit for first half of year

Saudi Arabian Basic Industries Corporation (SABIC) has reported a profit of SR 2.3 billion (U.S. $ 0.613 billion) for the first half of 1997, as compared to SR 2.27 billion (U.S. $ 0.605 billion) over the same period in 1996.  This was due to the fact that the second quarter's profit of SR 1.22 billion (U.S. $ 0.325 billion) reflected an increase of SR 139 million (U.S. $ 37.07) over the figure for the first quarter, SR 1.08 billion (U.S. $ 0.29 billion).