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Regions :: South America :: Brazil

Braskem swings to a net profit

10:53 AM MDT | August 7, 2014 | Francinia Protti-Alvarez

Braskem reported 124 million reais ($54.3 million) in net profit for the second quarter, compared with a R$125-million loss one year earlier, according to the company's results released today. However, compared with the previous quarter, net profit was down 69% from R$396 million. Adjusted Ebitda was up more than 6% year-on-year (YOY), to R$1.13 billion mainly due to a recovery in thermoplastic resin spreads in the international market, and an average depreciation of 8% in the value of the Brazilian currency between the two periods. Net revenue during the second...

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