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Profits up at Borealis
Borealis, a leading provider of innovative, value creating plastics solutions, announces a net profit of EUR 113 million for the first quarter of 2007, a 13% increase over the previous quarter. Net interest-bearing debt was reduced by EUR 61 million during the quarter, and the gearing ratio decreased from 34% in the fourth quarter of 2006 to 30%.
This performance was fuelled by strong market conditions, especially in the infrastructure sector, as well as by key market sales growth and operational excellence.
