People & Business :: Companies
Borealis Reports Lower Fourth-Quarter Profits and Sales, Sees Challenging Year Ahead
5:17 AM MST | February 23, 2012 | Natasha Alperowicz
Borealis today reported a big drop in fourth quarter net profits and a slide in sales but its full year results were stronger than in 2010. Net profits in the fourth quarter reached €58 million ($76.7 million) compared with €134 million in the year-earlier period. Sales were down 4% at €1.59 billion. For the whole of 2011 Borealis reported a 52% increase in net profits to €507 million on sales 13% higher at €7.1 billion. Return on capital employed in 2011 was 13% compared with 10% in 2010. Daniel Shook, CFO told CW this morning that...
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