Saud commended SABIC's accomplishments during 2004 which substantially contributed to the national development programs and remarkably enhanced the national balance of payments. SABIC Vice Chairman and Chief Executive Officer Mohammed Al-Mady pointed out that SABIC recorded its highest-ever achievements in 2004. SABIC, he said, will continue to boost its competitive capabilities by improving and enhancing customer services and productivity through research and technology as well as human resources development initiatives. SABIC's profit rose to a record SR14.25 billion ($3.80 billion) in 2004, an 113 percent increase on 2003 and the company's highest profit since inception. Sales revenues for 2004 totaled SR68.738 billion ($18.4 billion), an increase of 47 percent over 2003.
