Braskem reports $642 million Q3 profit on 77% boost in sales
SAO PAULO, Nov 9 (Reuters) - Brazilian petrochemical producer Braskem reported net earnings of 3.54 billion reais ($642 million)in the third quarter, compared to a loss of 1.41 billion reais in the same quarter of 2020, the company said in a securities filing on Tuesday.
Profit was boosted by a 77% jump in net revenue to 28.3 billion reais from a year previous, reflecting a higher volume of sales and better international spreads for chemicals it produces.
Braskem, Latin America's biggest petrochemical producer, is jointly owned by Odebrecht and Petrobras. ($1 = 5.5103 reais) (Reporting by Aluisio Alves Editing by Chris Reese)
