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)
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