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Saudi petchem firms reported 14% jump in H1 profits

July 31, 2014 8:58 am

Profits of Saudi listed petrochemical companies jumped 14.4% in the first half of this year to SR18.54bn, compared with SR16.2bn in the same period last year, Arab News has reported. Capital of the 14 listed firms stood at SR92bn as their market capitalisation reached SR631bn, or 30% of the value of all companies listed in the market. Saudi Basic Industries Corp (SABIC) captured the highest profits during the period with SR12.9bn, which represented 70% of the sector’s total profits, the report said.