Saudi Arabia's SABIC profits rose 16.3% in the third quarter of this year on an annual basis, reaching 500 million riyals, exceeding analysts' average expectations of 238.3 million riyals, according to Bloomberg. The company's revenues decreased by 3.1% and registered 28.2 billion riyals, but they were higher than the average expectations of 24.83 billion riyals. The company benefited from the increase in the selling prices of the products, which contributed to reducing the effect of the decrease in the quantities sold. SABIC's CEO, Faisal Al-Fakir: SABIC managed to achieve extraordinary flexibility in its performance despite the geopolitical developments taking place in the region and the challenges in the markets.

Saudi Arabia's SABIC profits rose 16.3% in the third quarter of this year on an annual basis, reaching 500 million riyals, exceeding analysts' average expectations of 238.3 million riyals, according to Bloomberg. The company's revenues decreased by 3.1% and registered 28.2 billion riyals, but they were higher than the average expectations of 24.83 billion riyals. The company benefited from the increase in the selling prices of the products, which contributed to reducing the effect of the decrease in the quantities sold. SABIC's CEO, Faisal Al-Fakir: SABIC managed to achieve extraordinary flexibility in its performance despite the geopolitical developments taking place in the region and the challenges in the markets.