Saudi Basic Industries Corp. announced earnings results for the fourth quarter ended December 31, 2017. For the quarter, the company reported an 18.6% drop, citing lower output and sales. The company made a net profit of SAR 3.67 billion, down from SAR 4.51 billion in the year-earlier period. Operational profit was SAR 6.65 billion compared to SAR 6.16 billion a year ago. The decrease in net income is attributable to lower production and sold quant as a result of planned turnarounds at certain plants. Gross sales amounted to SAR 40.56 billion compared to SAR 37.48 billion for the same quarter last year with an increase of 8% and compared to SAR 38.92 billion in previous quarter with an increase of 4%. Gross sales for the current For the full year, the company reported net profit of SAR 18.4 billion compared to SAR 17.61 billion a year ago. Operational profit was SAR 29.37 billion compared to SAR 25.87 billion a year ago. earnings per share was SAR 6.13 compared to SAR 5.87 a year ago. The increase in net income is attributable to higher average selling price and lower general and administrative expenses. Gross sales for the current period amounted to SAR 150.39 billion compared to SAR 143 billion for the same period last year with an increase of 5%.