UPDATE 1-Saudi’s SABIC Q3 net profit up 10.7 pct on higher prices, sales

UPDATE 1-Saudi’s SABIC Q3 net profit up 10.7 pct on higher prices, sales:

"Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals company, reported a 10.7 percent rise in third-quarter net profit on Sunday, beating analysts’ estimates.

Majority state-owned SABIC made a net profit of 5.79 billion riyals ($1.54 billion) in the three months to Sept. 30, up from 5.23 billion riyals in the year-earlier period, the company said in a bourse statement.

The net profit was better than the average net profit of 4.27 billion riyals forecast by four analysts."



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