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Borealis reports financial results for Q1

by ChemOrbis Editorial Team -
  • 12/05/2017 (11:46)
According to media reports, Borealis reported its financial results for Q1 of 2017. The company posted a net profit of €313 million ($340 million), up 22.7% year-on-year from €255 million ($277 million) recorded in the same period of last year.

The company attributed the rise in its net profits to the continuing high margins in the polyolefin business and the increasing contribution from Borouge, a joint venture between Abu Dhabi National Oil Company and Borealis.

Borealis expects to have a similar financial result in Q2 thanks to the expectations that polyolefin business and Borouge will continue to show a good performance and the conditions in fertilizer market will improve.
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