NOVA Chemicals' Q3 profit rises 15.4% on higher PE margins, volumes

31 October 2013 13:23  [Source: ICIS news]

TORONTO (ICIS)--NOVA Chemicals' third-quarter profit rose 15.4% year on year to $120m (€88m), mainly because of higher polyethylene (PE) margins and sales volumes, the Canada-based petrochemicals major said on Thursday.

NOVA added that the year-on-year profit increase was “offset somewhat” by lower margins in its olefins businesses in Joffre, Alberta, and in Corunna, Ontario.

NOVA Chemicals’ revenues for the three months ended 30 September were $1.26bn, up from $1.19bn in the same period a year ago. Third-quarter operating profit was $247m, up from $224m in the 2012 third quarter.

($1 = €0.73)

By: Stefan Baumgarten
+1 713 525 2653

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