Saudi Arabia’s SABIC’s net income falls beyond estimates in Q3
The company’s net income decreased to SAR6.18 billion ($1.65 billion) compared to the income of SAR6.47 billion posted in the previous year. The company cited weaker petrochemical sales and a drop in other income as the main reasons behind the decline in their net income.
Meanwhile, the company’s revenue for the third quarter declined to SAR48.071 billion ($12.8 billion) from SAR48.8 billion in the same quarter of 2013.
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