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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)

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