Currency Issues Whip Braskem's Revenue

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Braskem's (BAK Quote) Q3 FY08 revenue plunged 37.1% to $1.75 billion from $2.77 billion in the prior year's quarter due to currency translations. In terms of domestic currency, net revenue grew 8.8% to Brazilian reais (R$) 5.03 billion from R$4.62 billion in Q3 FY07 primarily due to higher revenue from the export market. Geographically, revenue from the domestic market increased 5.1% to R$3.76 billion from R$3.57 billion while revenue from the export market soared 21.5% to R$1.28 billion from R$1.05 billion a year ago.

Looking at the company's operating statistics, total production volume of Thermoplastic Resins, consisting of Polyethylene, Polypropylene and Polyvinyl Chloride, ascended 8.5% to 775,240 tons from 714,337 tons while total production of Basic Petrochemicals, comprising of Ethylene, Propylene and Benzene, Toluene, Ortoxylene and Paraxylene (BTX) remained flat at 1.15 million tons. ...