reports
SABIC's Q3 sales slump by 23%
SABIC, the largest producer of petrochemicals, fertilizers, and steel in the Middle East, reported a net profit of SAR15.7bn for the first nine months of 2015, 18% lower compared to the same period last year. Q3 2015 sales suffered a 23.4% decline to SAR37.3bn (from SAR48.7bn for the year-earlier period).
SABIC's Q2 2015 net profit falls slightly
SABIC made a net profit of SAR6.17bn (US$1.64bn) in Q2 2015, down by 4.5% from a year earlier. Q2 2015 sales totalled SAR42.1bn, down from SAR48.1bn a year earlier, but up from SAR35.5bn in the first quarter of 2015. SABIC also intends to expand its investment in the US shale gas market through joint ventures.
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