RIYADH: Petrochemical giant Saudi Basic Industries Co. saw net profit rise 84 percent year-on-year to SR 2.18 billion ($564 million) in the second quarter of 2024, driven by higher profit margins and new zakat regulations. In a Tadawul statement, the company reported a 32 percent rise in gross profit to SR7.19 billion, driven by improved margins on key products and higher sales volumes, although partially offset by non-recurring costs. Sales rose in the Americas, fell in Europe and remained flat in China, the Middle East and the rest of Asia.
