Gulf Oil and Gas accountACCOUNT

SABIC Announces SR 4.2 Billion Profits in First Quarter of 2006

Source: www.gulfoilandgas.com 4/19/2006, Location: Middle East

Saudi Basic Industries Corporation (SABIC) reported first quarter profits of SR4.2 billion, a decrease of 17% compared to the same period in 2005 and a decrease of 7% less than the profits in the last quarter of 2005. SABIC Vice Chairman and Chief Executive Officer, Mohamed Al-Mady said: "The company's sales during the 1Q2006 rose to SR 9.4 million metric tons, an increase of 14% over the sales in the same period last year. The decrease in profits is attributed to the decrease in the global prices of products by 10% in parallel with the rise of the cost of sales and the rise of prices of some manufacturing feedstock including liquid gas and iron ore".

"I expect that the prices of some products will see a relative improvement which will positively impact our corporate performance during the remaining period of this year".

Financials and Investment News in Saudi Arabia >>

Brazil >>  4/17/2019 - Petrobras has received correspondence from Caixa Economica Federal ("Caixa") informing that it is studying the possibility of selling shares that they...
Botswana >>  4/16/2019 - Tlou Energy Limited is pleased to confirm that it has successfully completed an equity placement to Sophisticated Investors totalling BWP21.8 million ...

Egypt >>  4/16/2019 - A finance ministry report on Egypt’s new budget (2019/20) showed that fuel subsidies will be reduced by EGP 36.112 billion (40 percent) in the new fis...
Ecuador >>  4/15/2019 - The Supreme Court of the Netherlands has ruled in favor of Chevron Corporation, rejecting the Republic of Ecuador’s attempts to annul decisions of an ...

United Kingdom >>  4/15/2019 - MX Oil plc, an oil and gas investing company quoted on AIM, announces the following corporate update: ...
Australia >>  4/12/2019 - Japan Oil, Gas and Metals National Corporation (JOGMEC) announced that it will provide equity financing to INPEX Offshore Timor-Leste, Ltd. (INPEX Off...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.