Canadian chemical producer Nova posted a Q4 2011 profit of $77 million, up $14 million year on year, the company said Tuesday.
For full-year 2011, Nova posted a profit of $615 million, up from $263 million the previous year.
The company's Olefins/Polyolefins segment posted a Q4 operating profit of $190 million, down $20 million from the same period the previous year. For the full year, the Olefins/Polyolefins segment generated an operating profit of $1.13 billion, an increase from the $786 million posted in full-year 2010.
The Performance Styrenics division reported an operating profit of $1 million in Q4, flat to the same period the previous year.
For the full year, the division reported an operating profit of $7 million, up from $3 million the previous year. The year-on-year gains were attributed to stronger margins, Nova said.
The company also added that in January 2012 it repaid $400 million in 6.5% notes using cash on hand.
