Riyadh – Mubasher: The profits of Saudi Basic Industries Corp (SABIC) soared by 47.73% during the fourth quarter of 2016 when compared to the same period a year ago.
Net earnings increased to SAR 4.55 billion ($1.2 billion) in Q4-16 from SAR 3.08 billion ($821 million) in Q4-15, according to a bourse filing issued on Thursday.
The declining cost of sales as well as the general and administrative expenses backed Q4 profits to grow.
