Riyadh-Mubasher: Saudi Basic Industries Corp. (SABIC) will announce its financial results for the second quarter of 2016 on Wednesday 27 July 2016, according to the company’s statement on Tuesday.
The Saudi-listed company’s profits fell 13.23% year-on-year to SAR 3.41 billion in the first quarter of 2016 from SAR 3.93 billion.
Eight research companies expected that SABIC’s Q2 profits will retreat 38% to SAR 3.82 billion after achieving SAR 6.17 billion actual profits in Q2-15.
Statistics by Mubasher showed that all estimates came lower than the company’s actual earnings in Q2-15, while they were above those posted in Q1-16, except for Al Rajhi Capital’s estimates.
