2001 News Story

SABIC reports profits for second quarter of year

Saudi Arabian Basic Industries Corporation (SABIC) has announced profits for the second quarter of 2001 of SR 778 million [U.S. $ 207.47 million]. Profits for the first quarter of 2001 were SR 1.5 billion [$ 0.4 billion]. The drop in profits generally this year can be attributed to a decrease in the prices of most of SABIC's products.