The financial statements of the Saudi Basic Industries Corporation (SABIC) showed that the company had turned in loss at the end of the first nine months of this year.
According to the company's results for the Saudi market (Tadawul), today, Sunday, losses for the period amounted to 2.18 billion riyals, compared to profits of 6.09 billion riyals in the first nine months of 2019 .
The company said that the negative shift in results during the comparison periods is due to the decrease in the average selling prices of products in addition to recording provisions for a decrease in the value of some capital and financial assets, net of 1.55 One billion riyals
At the level of the third quarter of this year, SABIC achieved profits of 2.1 billion riyals, compared to profits of about 3.79 billion riyals for the same period in 2019, a decrease of 44.6% .
