27 October 2009 09:23 [Source: ICIS news]
SINGAPORE (ICIS news)--Borealis posted a third-quarter net profit of €46m ($68.7m), down 71% year on year, due to poor sales, the Austria-based chemical producer said on Tuesday.
Sales for the three-month period ending on 30 September declined 30% year on year to €1.28bn, Borealis said.
Operating profit slumped 66% to €58m on continued margin pressure, particularly on its melamine and fertilizer businesses, the company said.
For the January-September period, the company said its net profit shrank 93% to €25m, while sales were down 36% at €3.45bn.
Borealis said its sales margins have slightly improved but were still below historic levels.
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