The financial statements of the Saudi Basic Industries Corporation (SABIC) showed an increase in the company's profits in the first quarter of this year by 33% on an annual basis.
According to the company's results for the Saudi market (Tadawul), the profits for the period amounted to 6.47 billion riyals, compared to profits of 4.98 billion riyals in the first quarter of last year.
The company's profits grew on a quarterly basis by 30.1%, compared to 4.97 billion riyals in the previous quarter, knowing that the profits exceeded the average expectations of analysts.
The value of operating profits achieved by SABIC in the first quarter of 2022 amounted to about 9.32 billion riyals, compared to 6.98 billion riyals in the first quarter of 2021, a growth of 32.6%.
