Sabic profit down 39% on lower oil price | The National:
"Saudi Basic Industries Corp (Sabic), one of the world’s largest petrochemicals groups, reported a 39 percent drop in first-quarter net income on Sunday that was not as large a fall as analysts had forecast.
Sabic made a net profit of 3.93 billion riyals (Dh3.84bn) in the three months ending March 31, down from 6.44bn riyals in the year-earlier period, the company said in a bourse statement.
This was above the average forecast of seven analysts polled by Reuters, who had predicted that Sabic would make a quarterly profit of 3.50bn riyals."
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