Saudi Basic Industries Corporation (SABIC) reported first quarter 2007 profits of SR 6.3 billion, an increase of 50% compared to SR 4.2 billion in the same period in 2006. Consolidated operating profits amount to SR 9.6 billion compared to SR 6.6 billion, an increase of 45%. Company's share profit amounts to SR 2.51 compared to SR 1.67 in the same period last year. --MORE 1245 LOCAL TIME 0945 GMT NNNN