2007 News Story

SABIC posts record profits for 2006

The Saudi Basic Industries Corporation (SABIC) posted a record profit of $5.4 billion [SR 20.3 billion] for 2006. The number represents an increase of six percent over the company's 2005 profits.

Prince Saud bin Abdullah Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu and Chairman of SABIC, said that these record profits are primarily due to improved prices for most of the company’s products and an increase in sales.