Ineos Reports Higher Profits in the First Quarter but Does Not Match Year-Earlier Result

Ineos today reported a significant improvement in trading in the first quarter of 2012 compared with the last three months of 2011 but profitability in the first quarter was lower compared with the year-earlier period. Ebitda in the first quarter of 2012 reached €465 million ($611.4 million) compared with €577 million in the first quarter of 2011 and €190 million in the fourth quarter of 2011, based on unaudited information. Comparative information excludes the results of the refining business, which the company disposed of in July 2011. Revenues...

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