SABIC Q4 2013 Net Profit Increases 5.66 Percent

19/01/2014 14:22 AST

Net profit of Saudi Basic Industries Corp (SABIC) during the 4th Q 2013 amounted to SAR 6.16 billion versus SAR 5.83 billion for the same quarter of last year with an increase of 5.66 %, compared to SAR 6.47 billion for the previous quarter with a decrease of 4.79 %.

Gross profit during the 4th Q of 2013 added up to SAR 13.82 billion versus SAR 13.66 billion for the same quarter of last year, an increase of 1.17 percent.

Operating profit increased 0.49 % to SAR 10.3 billion during 4thQuarter of 2013 versus SAR 10.25 billion for the same quarter of last year.

While, net profit during 2013 showed an increase of 1.82 percent with SAR 25.23 billion versus SAR 24.78 billion for the last year 2012.

EPS of SABIC during 2013 recorded as SAR 8.41 per share versus 8.26 SAR/Share for the same period last year 2012.

The total gross profit during 2013 is recorded as SAR 55.31 billion versus SAR 53.39 billion for the last year 2012, showing increase of 3.6%.

The total operating profit of SABIC during 2013 amounted to SAR 42.59 billion versus SAR 41.03 billion for the last year 2012, increasing 3.8 %.

Net income for the fourth quarter has grown due to lower cost of sales and financial charges.

Net income for the year has grown due to lower cost of sales and financial charges despite lower other income.


Gulfbase.com

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