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05-02-22
SABIC stocks drop by 1.62 percent despite registering high record in 2021
(MENAFN) Stocks of Saudi Arabia’s petrochemical giant SABIC closed Thursday’s trading session with losses, in spite of registering a huge revenues record in the year 2021.
The stake cost of the Riyadh-based chemical maker plummeted by 1.62 percent on ending, hitting SR121.4 (USD32).
According to the homegrown company statement, this followed a massive 32,800 percent increase in 2021 profits from a year before along with a sturdier brand value, which at this time amounts at USD4.67 billion.
Profits hit SR23 billion (USD 6.13 billion), in comparison to SR70 million (USD 18.6 billion) recorded two years ago. This was in alignment with more than a 49 percent raise in profits, hitting SR175 billion (USD 46.6 billion) during the corresponding time span.
MENAFN05022022000045013568ID1103644930
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