NIC’s Net Profit Triples to SR120m

RIYADH, 17 July 2005 — Saudi Arabia’s National Industrialization Company’s second quarter net profits tripled to SR120 million ($32 million) from SR40 million in the same period last year, the firm said yesterday. It gave no further details. Shares in NIC, which promotes industrial development and has stakes in several Saudi manufacturing companies, rose 0.6 percent to SR551.5 at 1505 GMT.