Ineos Reports Sequential Profit Improvement in the First Quarter

Ineos reported a significant improvement in trading in the first quarter of 2012 compared with the last three months of 2011 but profitability was lower compared with the year-earlier period. Ebitda in the first quarter of 2012 declined to €465 million ($611.4 million) from €577 million in the first quarter of 2011. Ebitda increased from €190 million in fourth-quarter 2011 based on unaudited information, the company says. Comparative information excludes the results of the refining business, which the company sold in July 2011. Revenues were not...

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