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Regions :: Western Europe
Borealis Returns to Profit in the Fourth Quarter; Full-Year Results Drop
4:39 AM MDT | March 18, 2010 | Kerri Walsh
Borealis reported fourth-quarter 2009 net income of €13 million, compared to a loss of €122 million, on sales down 6%, to €1.3 billion. Operating profit was €11 million, compared to a €199-million loss. Higher profits were a result of cost-cutting measures, Borealis says. Full-year net income dropped 84%, to €38 million, on sales down 30%, to €4.7 billion. “Borealis’ performance was affected by the economic crisis, which hit with full force in 2009, causing a significant downturn in consumer and industry...
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