2005 News Story

SABIC reports high profits for first quarter of 2005

Saudi Basic Industries Corporation (SABIC) reported yesterday that its first-quarter net profit for 2005 rose 116 percent from the same period last year to SR5.08 billion ($1.36 billion). In a statement posted on the Saudi stock exchange website, SABIC, the Kingdom's largest listed firm, also commented that this figure is eight percent higher than that for the last three months of 2004.