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Higher Prices, Lower Costs Boost Borealis's Earnings and Sales

7:15 AM MST | February 24, 2011 | Ian Young

Borealis says its net profits soared more than ten-fold in the fourth quarter of 2010 compared with the corresponding period of 2009, to €134 million on sales up 30.5%, to €1.65 billion. Quarterly operating profits increased more than seven-fold, to €82 million. Full-year 2010 net profits jumped from €38 million, to €333 million and full-year sales increased from €4.7 billion, to €6.3 billion. Increased profitability was driven by improved industry conditions across all businesses combined with further efficiency gains...

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