DUBAI: Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, posts a 29% plunge in fourth-quarter net income, widely missing analysts' forecasts because of the tumble of global oil prices.
The Gulf’s largest listed company earned 4.36 billion riyals (US$1.16bil ) in the quarter to Dec 31 compared with 6.16 billion riyals in the year-earlier period, SABIC said in a bourse statement.
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