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Net income soars at Huntsman Corp in Q4
17
Feb '17
For the three months ended December 31, 2016, net income at Huntsman Corporation soared massively to $137 million, as against $9 million in the prior year’s fourth quarter. Resultantly, diluted income per share also surged to $0.53 versus $0.02, while adjusted diluted income per share was $0.30 vis-à-vis $0.51 in the fourth quarter of 2015.

Net revenues in the reporting quarter at the textile dyes and pigments producer were $2,395, higher than $2,332 million in the earlier year’s same quarter.

Revenues in the Textile Effects division in the fourth quarter of 2016 were nearly flat, when compared with the same period of earlier year, as lower local currency average selling prices were offset by higher sales volumes, which increased in Asia, Europe and South America.

In the period under review, adjusted EBITDA too rose higher at $256 million as against $240 million in the fourth quarter of the previous year, driven primarily by higher volumes and lower raw material costs. (AR)

Fibre2Fashion News Desk – India

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