NOVA Chemicals Q2 profit soars to $225m on olefins/polyolefins price

11 August 2011 15:13  [Source: ICIS news]

TORONTO (ICIS)--NOVA Chemicals’ second-quarter profit rose to $225m (€158m), from $46m in the same period a year ago, driven by high selling prices in its core olefins/polyolefins business, the Canadian petrochemicals major said on Thursday.

NOVA’s olefins/polyolefins business achieved a 45% year-on-year increase in second-quarter operating profit, to $367m, as selling prices increased more than feedstock costs, the company said.

NOVA’s sales for the second quarter rose almost 12% year on year to $1.39bn.

($1 = €0.70)

For more on NOVA Chemicals and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly