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SABIC shares end even on firm’s flat annual profit

February 19, 2014 6:05 pm

The Tadawul All Share Index closed 0.12 per cent higher at 8,967.62 points on Wednesday, February 19. SABIC closed unchanged at SAR113.50. Earlier in the day, SABIC said that its net income for the full year of 2013 amounted to SAR25.28 billion ($6.82bn), up by 2.02 per cent year on year. Riyadh-based SABIC, the biggest producer of petrochemicals, said the increase in net income was triggered by lower cost of sales and financial charges despite lower investment income from associated companies.

Gérard Al-Fil