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Saudi: Sabic swings to Q1 profit, revenue down 6%
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Sabic becomes profitable despite 11% drop in revenue
Saudi Basic Industries Corp (Sabic), which is 70 percent owned by Saudi Aramco, turned profitable in the first quarter of 2026 following a drop in operating expenses. Net income attributable to shareholders reached SAR13.2 million ($3.5 million), versus a net loss of SAR1.1 billion in the same period last year, the company said in a statement to the Saudi stock exchange on Wednesday. Operating expenses fell by SAR1 billion, as there were no non-…
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