The gross operating profit for the six months ended June 30, 2010 was SR 24.05 billion, compared to SR 9.84 billion for the same period in 2009, an increase of 144%. 7- The income from operations for the six months ended June 30, 2010 was SR 18.84 billion, compared to SR 4.46 billion for the same period in 2009, an increase of 322%. The increase in the net income for the quarter ended June 30, 2010 compared to the same quarter in 2009 is attributable to the increased production and sales volumes with the new capacity coming on-stream at SHARQ, YANSAB and the joint-venture with Sinopec in China. Additionally, the improved pricing environment for most of the products had a positive bearing on the consolidated financial performance, said Hisham S. Al-Joher, Acting Vice President, Corporate Communications in a latest report carried by SABIC web-site. "The reduced profitability in the second quarter ended June 30, 2010 compared to the first quarter ended March 31, 2010 is attributable to decrease in the prices of major products, higher feedstock cost, and higher prices of raw-materials for Hadeed products."
