Saudi International Petrochemical Co. (Sipchem; Al Khobar, Saudi Arabia) today reported a 17.7% slide in second quarter net proft to SR136.1 million ($36.3 million), compared with SR165.4 million in the same quarter of 2011. Net proft was also down 10% on the preceding quarter. First quarter 2012 net proft reached SR151.6 million. Gross proft in the second quarter of this year was fat at SR314.2 million. Second quarter operating proft was also down close to 2% at SR283.5 million. Net proft during the frst six months of this year reached SR287.7 million compared with SR286.3 million in the same period last year. Earnings per share during the six months were SR0.78, the same as in the corresponding period of last year. Gross proft during the six months reached SR648.9 million, an increase of 11% on the SR583.8 million achieved in the same period of last year.
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