The Saudi Basic Industries Corporation (SABIC) announced a quarterly profit for the first quarter of this year of 3.41 billion riyals, down 38.1% from the corresponding period of 2018, amounting to 5.51 billion riyals.
The company explained in a statement to the Saudi market today, Sunday, that the decline in profits is due to the decrease in the average prices of selling resorts during the first quarter of 2019.
The company achieved sales in the first quarter of this year of 37.37 billion riyals, compared to 41.86 billion riyals in the same period last year, a decrease of 10.7%.
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The operating profit of the company in the first quarter of 2019 decreased by 31.3% to 6.15 billion riyals, compared to an operating profit of 8.95 billion riyals for the same period in 2018. < / p>
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