Westlake Group, a Houston maker of PVC and low density polyethylene resin, as well as PVC pipe and fencing, posted double-digit gains in sales and profit in the first nine months of 2003.
Sales jumped 34 percent to $1.06 billion, compared with the same period a year ago, while profit rose 10 percent to $2.2 million.
Westlake cited increased selling prices and sales volumes as reasons for the improvement.
Sales in Westlake's olefins unit - which includes LDPE, ethylene and styrene monomer - jumped 52 percent to $652.5 million. Sales for its vinyl unit - including PVC, vinyl chloride monomer feedstock and the North American Pipe and Westech Fence businesses - increased 13 percent to $404.7 million.
Pretax profit was a different story, however. Olefins boomed to $72.7 million - a 57 percent hike - but vinyls fell 3 percent to $34.4 million.
The Nov. 12 earnings report was the first in Westlake's 17-year history and was required because the firm issued bonds this year.