Sabic reported a huge increase in profit in the second quarter of 2011. Net income rose 61% to SR8.1 billion ($2.16 billion) over the same period of last year and was up 5% on the first quarter of this year when net income reached SR7.69 billion. The company beat Reuters' consensus estimates of SR7.1 billion for the quarter. Gross operating profit in the second quarter was 39% higher year- on-year at SR16.49 billion while operating income was 45% higher at SR13.28 billion.
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