Saudi Basic Industries Corp (SABIC), the world's largest chemicals company by market value, posted a 2.3 percent drop in third-quarter profit, in line with forecasts. SABIC made SR7.24 billion ($1.93 billion) in the three months to Sept. 30, down 2.3 percent from the year-earlier period, the company said in a statement posted on the bourse website. It was the first time SABIC showed year-to-year slide in quarterly profits since the second quarter of 2006. Analysts' forecasts for third-quarter profit ranged from SR6.64 billion to SR7.27 billion, according to a Reuters survey last month.
