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Indorama reports fall in quarterly profits

5:16 AM MST | November 11, 2013 | Deepti Ramesh

Indorama Ventures (Bangkok) reports a 23.9% fall in net profits for the third quarter of 2013 compared with the year-ago quarter, to $35 million. Third-quarter sales increased 10.6%, however, to $1.87 billion. A modest recovery of prices led to an inventory gain of about $8 millions in the third quarter of 2013, Indorama says. “As a global company with a strong portfolio of assets, Indorama’s strategy has been to diversify risk geographically and therefore regional results provide an important overview of how the moving parts of the business are...

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