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Braskem's net profit drops 95% in the fourth quarter

10:16 AM MST | February 13, 2014 | Francinia Protti-Alvarez

Braskem's consolidated net profit was 15 million reais ($6.22 million) in the last quarter of 2013, down 95% from the fourth quarter of the year before, when net profit amounted to R$275 million, according to results released by the company today. Ebitda amounted to R$1.18 billion, R$224 million lower than in the last quarter of 2012. Sales, meanwhile, grew by about 20% in the fourth quarter of 2013, to R$13.37 billion. Domestic sales of polyolefins totaled 740,000 m.t. during the last quarter of the year, up 2%, although Braskem says its market share contracted...

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