SABIC Q2 Profit Rises 7% as Expected

Posted by Joseph R. Fonseca
Sunday, July 20, 2014

 

Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 7 percent rise in second-quarter net income on Sunday, matching analysts' forecasts.

It earned 6.46 billion riyals ($1.72 billion) in the quarter, compared to 6.04 billion riyals in the year-earlier period, SABIC said in a bourse statement.

SABIC, which is 70 percent state-owned, attributed the rise in profits to higher production and sales volumes as well as higher sales prices.

This was in line with the average forecast of analysts polled by Reuters, who had predicted a quarterly profit of 6.42 billion riyals.

(Reporting by Nadia Saleem; Editing by Andrew Torchia)

($1 = 3.7502 Saudi Riyals)

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Offshore Casualty: Harkand Group Collapses

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

ITIC Reports on Ship Agents' Costly Transhipment Errors

International Transport Intermediaries Club (ITIC) says it continues to deal on a regular basis with claims resulting from errors by agents involving transhipment cargoes.

News

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

GPA Will Continue Weighing Containers at No Cost to Shippers

The U.S. Coast Guard announced last week that state-calibrated scales already in use at the Port of Savannah meet a new requirement of the international Safety of Life at Sea (SOLAS) Convention.

ITIC Reports on Ship Agents' Costly Transhipment Errors

International Transport Intermediaries Club (ITIC) says it continues to deal on a regular basis with claims resulting from errors by agents involving transhipment cargoes.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0949 sec (11 req/sec)