Saudi Basic Industries Corporation Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Announces Impairment for the Fourth Quarter Ended December 31, 2015
Net profit for the year ended December 31, 2015 was SAR 18.78 billion, or SAR 6.26 per share, compared to SAR 23.35 billion, or SAR 7.78 per share, for the year ended December 31, 2014. Operational profit for the year ended December 31, 2015 was SAR 28.44 billion, compared to SAR 37.73 billion for the year ended December 31, 2014.
For the quarter, the company reported SAR 375 million impairment against equipment at its Ibn Rushd unit.