Covestro Q4 profit surges on strong polyurethanes earnings

摘要

COLOGNE, Germany (ICIS)--Covestro's fourth-quarter net income rose more than fourfold year on year to ?566m on the back of a surge in polyurethanes division earnings, the Germanyheadquartered chemicals producer said on Tuesday. Strong margins as a result of supply tightness in the toluene di-isocyanate (TDI) and methyl di-p-phenylene isocyanate (MDI) drove up earnings before interest and taxes (EBIT) for the polyurethanes division, which rose to ?534m in the fourth quarter of 2017 from ?80m during the closing three months of 2016.