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Sabic returns to profit in third quarter as revenue rises despite regional conflict

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The National
“Sabic returns to profit in third quarter as revenue rises despite regional conflict”

Saudi Basic Industries Corporation ( Sabic ), the Middle East’s largest petrochemicals company, returned to profitability in the third quarter as revenue increased and its operating performance improved despite challenging market conditions. Net profit attributable to shareholders of the company reached 500 million Saudi riyals ($133 million) in the three months to the end of September, up 16.3 per cent from the same period last year, Sabic said in a bourse filing on Sunday. The company swung…

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