The giant is coming back!
The net profit at SABIC jumped by 80% from a year earlier in the first quarter of 2017. The company made a net profit of SAR5.24bn (US$1.40bn) in the three months to March 31, up from SAR2.91bn in the year-earlier period. Q1 2017 Gross sales totalled SAR36.95bn, up by 10% from SAR33.47bn a year ago.Saudi Basic Industries is engaged in manufacturing, marketing and distribution of chemical, fertilizer and metal products in global markets. Co.'s chemical productions consisted of polyethylene, polypropylene and advanced thermoplastics, glycols and methanol. Co.'s operations consist of the following business segments: the Chemicals segment, which includes basic chemicals, intermediates, polymers and specialty chemicals; the Fertilizers segment, which consists of fertilizer products; and the Metals segment, which consists of steel products. Co. also maintains investment activities through SABIC Industrial Investments.
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