Saudi Aramco’s profit drops 12%. It’s still making more money than any other company

London (CNN Business)Saudi Aramco said Monday that its profit dropped 12% in the first half of its financial year to $46.9 billion due to weaker global oil prices. An IPO that was planned for 2018 never materialized. A lack of transparency over the size of the country’s energy reserves had caused skepticism about the potential sale and the value of Aramco. But plans for a public listing as early as next year are now being accelerated following positive investor reaction to a bond sale in April, according to the Wall Street Journal. Going public Chief Financial Officer Khalid Al-Dabbagh said that the company is “ready for the IPO.” Speaking during the first earnings call Aramco has ever held, the finance …