Nova Chemicals has reported a net income of $17m in Q4 2009, compared to a net loss of $212m for the same period in the previous year.
In Q4 2009 Nova's operating income was $102m compared to a loss of $387m during the same quarter of 2008, the company said.
Improving demand, stabilised and rising prices, reduced operating costs and falling utility costs helped the Canadian firm.
During Q4 2009 the company refinanced a substantial portion of its outstanding debt scheduled to mature in 2010.
Corporate costs, however, in Q4 of 2008, were positive due to foreign exchange gains related to the change in functional currency, Nova said.
