Ineos fights off LyondellBasell comparisons with on-target results

Ineos, the UK chemicals firm, has reported earnings in line with its expectations and within its loan covenants. Preliminary results for 2008 show earnings before interest, tax, depreciation and amortisation of Eu1.62bn, at the low end of the Eu1.6bn-Eu1.7bn that it reported when negotiating with lenders for a year-end covenant waiver.