Mubasher: Saudi Basic Industries Corp (SABIC) achieved a net profit of SAR 5.24 billion during the first quarter of 2017, compared with SAR 2.91 billion in the same period of 2016; a year-on-year increase of 80%.
In Q1-17, SABIC reported a growth of 10% in sales to SAR 36.95 billion from SAR 33.47 billion in Q1-16, according to a bourse statement issued on Monday.
SABIC’s gross income soared by 73% to SAR 5.42 billion in Q1-17 from SAR 3.13 billion in Q1-16.
At the stock level, SABIC closed Monday’s session 1.06% higher at SAR 99.
