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SABIC returns to profitability with $220m adjusted net income in Q3

RIYADH: Saudi Basic Industries Corp. returned to profitability in the third quarter, reporting adjusted net income of SR840 million ($220 million) as revenue and earnings improved from the previous three months. The petrochemicals producer had posted an adjusted net loss of SR380 million in the second quarter, according to a statement. Adjusted earnings per share rose to SR0.28 from a loss of SR0.13. Revenue increased 14 percent quarter on quarter to SR28.17 billion, while adjusted earnings be