Saudi Basic Industries Corp. (SABIC), has reported a 4.5% fall in Q3 net profit, as sales of petrochemical products slowed. The company reported net income for the three months ended Sept. 30 of SAR 6.18 bln (US$1.65 bln), down from SAR 6.47 bln a year earlier. Chief Executive Mohammed Al Mady linked the drop in profit to a slowing global economy, noting that Europe is still in recovery mode, while China is underperforming slightly.
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