Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

SABIC posts 33% rise in profit

The new material was specially developed for motor oil and lubricant oil bottles manufactured through blow molding technology.
By TRENDS Desk
May 12, 2022 7:05 pm
  • The Riyadh-based company attributed the stronger results to higher average selling prices which were up 3 percent
  • The company CEO said SABIC will remain focused on delivering its growth strategy

The chemical giant has posted SR6.47bn profit in Q4.

Profits soared to SR6.47 billion last quarter, compared to SR4.9 in the same quarter a year earlier, according to a bourse filing.

The Riyadh-based company attributed the stronger results to higher average selling prices which were up 3 percent on a quarterly basis as well as an increase in sales volume.

“SABIC’s first-quarter results demonstrated strong performance driven by continued healthy demand for our products, higher oil prices, and our diverse global portfolio,” commented CEO, Yousef Al-Benyan.

“In 2022, SABIC will remain focused on delivering its growth strategy, achieving operational resilience, and meeting our ESG commitments while at all times maintaining a strong balance sheet,” he added.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]