The Saudi Basic Industries Corporation (SABIC) has reported a net profit of SR 20.2 billion for the first nine months of 2007, an increase of 42 percent, compared to the SR 14.2 billion net profit in the same period last year. For the third quarter (3Q) of 2007, the company reported a profit of SR 7.4 billion, an increase of 37 percent over the 3Q-2006 profit of SAR 5.4 billion and an increase of 14% over the 2Q-2007 profit of SAR 6.5 billion. The President of the Royal Commission for Jubail and Yanbu and SABIC Chairman, Prince Saud bin Abdullah bin Thunayan Al-Saud said: "The company reported a SR 29.6 billion operating profit for the last nine months of 2007 compared to SR 21.6 billion in the same period last year, an increase of 37 percent. The profit per share price for the current period amounts to SR 8.06 versus SR 5.67 in the same period last year”. --MORE
