RIYADH, July 19 (KUNA) -- Saudi Arabia Basic Industries Company's (SABIC) profits in first half of this year grew by 13 percent to 14.5 billion Riyals (USD 3.86 billion), compared to 12.8 billion Riyals (USD 3.4 billion) the same period 2007.
SABIC said in a statement operational profits jumped 20 percent to 23 billion riyals (USD 6.13 billion), against 19.2 billion riyals (USD 5.1 billion) achieved in the first six months of 2007.
Mohammad Al-Madhi, SABIC CEO, said the company's revenues for first half 2008 grew by 54 percent to 83 billion riyals (USD 22.1 billion) were attributed to improvement of sales in most of the major products.
SABIC board, he said, decided to distribute 5.25 billion riyals (USD 1.4 billion) in cash dividends for shareholders. (end) od.bs KUNA 192226 Jul 08NNNN