People & Business :: Companies
Borealis Reports Strong Results, Sees Possible Cooperation with Cepsa
6:17 AM MDT | August 11, 2011 | Natasha Alperowicz
Borealis reported an 83% increase in second-quarter net profits, to €168 million ($239.7 million) on 18% higher sales at €1.897 billion. Operating profits, however, slipped 14%, to €109 million. Borouge, Borealis’s joint venture in Abu Dhabi, contributed €97 million to net profits, Daniel Shook, Borealis CFO, tells CW. Borealis expects a more difficult second half of 2011. “Volatility remains high and based on the recent softening of market conditions, we expect the second half of the year to be much more...
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