08 November 2012 01:06 [Source: ICIS news]
HOUSTON (ICIS)--Brazil-based specialty chemicals producer Oxiteno reported on Wednesday an operating income of reais (R) 78.7m ($38.8m, €30.3m), up substantially year on year because of higher sales.
Oxiteno reported an operating loss of R600,000 for the same time last year.
Net sales were R795.9m, up by 27% from R624.4m reported for the same period last year. Cost of sales were R614.4m, up by 11% from R551.5m reported for the same time last year.
Oxiteno attributed the increase in revenue to higher sales volumes, made possible by expanded production capacity. The company also benefitted from a 24% drop in the value of the real.
Oxiteno is also a subsidiary of Ultrapar.
Ultrapar reported third-quarter net earnings of R291m, up by 29% from R225m reported for the same time last year.
Ultrapar also owns fuel distributors Ipiranga and Ultragaz as well as Ultracargo, a storage subsidiary.
($1 = R2.03, $1= €0.78)
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