About: http://data.cimple.eu/news-article/7824adef77f31884d7115984d407eee09ecb90a01d835172597e1915

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rdf:type	schema:NewsArticle
schema:articleBody	Saudi petrochemicals giant SABIC said on Thursday it posted a loss in the three months to end-June, the third quarterly loss in a row, due to low sales and impairments. SABIC, the world's fourth largest chemical firm, said it posted a loss of 2.22 billion riyals ($592 million) in the April to June quarter, compared to a net profit of 2.03 billion riyals ($541 million) in the corresponding quarter last year. The company, acquired by Saudi Aramco for $69 billion in a deal agreed in 2019 and completed in June this year, posted a loss of $872 million in the first half of 2020 compared to a net profit of $1.4 billion in the same period a year ago. It attributed the losses to a lower average price and sales volume, mainly due to the impact of the coronavirus pandemic. It also said it has allocated $608 million as impairments provisions in certain capital assets in the first six months. SABIC's bottom line had been deteriorating even before the coronavirus crisis due to a sharp fall in international prices. The company posted a net profit of $1.5 billion in 2019 compared to $5.74 billion in the previous year. bur-oh/dm
schema:headline	Saudi chemical giant SABIC loss tops $590 mln on low sales
schema:mentions	Petrochemical Saudi Aramco Saudi Arabia Pandemic Coronavirus SABIC
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-08-06 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	57 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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