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07-21-2009

Sabic: Results for the Last Six Months

The Saudi Basic Industries Corporation (Sabic), reports its consolidated financial results for the period ended on June 30, 2009, as follows:‪ The net income for the quarter ended June 30, 2009 amounted to SR 1.8 billion, compared to the net income of SR 7.5 billion for the same quarter in 2008, a decline of 76 %, and compared to the net loss of SR 974 million in the previous quarter ended March 31, 2009. The gross profit for the quarter ended June 30, 2009 was SR 6.2 billion compared to SR 14.8 billion for the same quarter in 2008, a decline of 58 %. The income from main operations for the quarter ended June 30, 2009 was SR 4.1 billion compared to SR 12.1 billion for the same quarter in 2008, a decline of 66 %. The net income for the six months ended June 30, 2009 amounted to SR 830 million, compared to the net income of SR 14.47 billion for the same period in 2008, a decline of 94 %. The earnings per share (EPS) during the six months ended June 30, 2009 was SR 0.28 compared to EPS of SR 4.82 during the same period in 2008.‪ The gross profit for the six months ended June 30, 2009 was SR 9.84 billion compared to SR 28.64 billion for the same period in 2008, a decline of 66 %. The income from main operations for the six months ended June 30, 2009 was SR 4.46 billion compared to SR 23.03 billion for the same period in 2008, a decline of 81 %.

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