The net profits of Saudi Basic Industries Corporation (SABIC) declined by 21.63% in the first half of this year, compared with same period of the previous year, amounting to 10.11 billion riyals. The Corporation explained in a statement today on "Tadawul" site that it achieved net profits during the second quarter amounted to 6.17 billion riyals, down by 4.49% from the same quarter of the previous year, and an increase by 57% from the previous quarter, indicating that the profit per share amounted 3.37 riyals versus 4.3 riyals. The Corporation attributed the results to lower average of products selling prices, noting that there is a decrease in the costs of sales.
