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Saudi SABIC Q4 profit rises, below all forecasts

Sat Jan 19, 2008 8:41am EST

RIYADH, Jan 19 (Reuters) - Saudi Basic Industries Corp. 2010.SE (SABIC) made a fourth-quarter profit of 6.87 billion riyals ($1.83 billion), up 12.3 percent from the year-earlier period, missing all analysts' forecasts.

Analysts' forecasts for SABIC's fourth-quarter profit ranged from 8.38 billion riyals to 9.1 billion riyals in a Reuters net profit survey last month. [ID:nL31333816]

SABIC, the world's largest chemicals company by market value, reported a net profit of 6.12 billion riyals in the fourth quarter of 2006.

(Reporting by Souhail Karam, Editing by Daliah Merzaban)



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