SABIC's Profit Falls 29% Due to Slump in Prices

ISTANBUL--January 21, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Falling prices have prompted a 29% drop in profits for Saudi Arabian petrochemicals company Saudi Basic Industries Corporation (SABIC) (Riyadh, Saudi Arabia). The largest publicly traded company in the Gulf region reported net profit of 4.36 billion riyals ($1.16 billion) for the fourth quarter of 2014. The company reported 6.16 billion riyals ($1.64 billion) profit in the same quarter a year earlier.

Within this article: Fourth-quarter earnings for Saudi Basic Industries Corporation.