Nova’s earnings slip on lower margins for olefins, polyolefins

nova Chemicals reports year-on-year (YOY) declines for annual and fourth-quarter 2012 profits—results that the company attributes to lower margins in its olefins and polyolefins business unit. Fourth-quarter 2012 net profit totaled $57 million on revenue of $1.1 billion, versus net profit of $77 million on revenue of $1.1 billion in the year-ago period. Net profit for full-year 2012 totaled $514 million on revenue of $5.1 billion, versus net profit of $615 million on revenue of $5.2 billion in 2011. Operating profit for Nova’s olefins and polyolefins...

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