Economics

Sabic Misses Estimates as Second-Quarter Profit Declines 35%

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By Glen Carey

July 18, 2012 at 11:38 AM UTC

This article is for subscribers only.

Saudi Basic Industries Corp., the world’s biggest petrochemicals maker, posted a 35 percent decline in second-quarter profit on lower product pricing and higher raw materials costs, missing analysts’ estimates.

Net income fell to 5.3 billion riyals ($1.4 billion) from