(MENAFN) Saudi Basic Industries Corp (SABIC), which is considered the world's fourth-biggest petrochemicals company, stated that it has witnessed a decrease by 25% in Q2 net profit.
The Saudi Arabia Company revealed that it has gained a net profit of 3.71 billion riyals in the April-June period, compared with 4.96 billion riyals in Q2 of 2016.
On the other hand, SABIC stated that this decline was mainly derived by increasing cost of sales and lower sales quantities.
MENAFN3007201700450000ID1095670614
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.