Ineos Group Holdings saw first-half pre-tax profits almost double.
The Swiss-based petrochemicals group made 338.3 million euros in the six months to June 30, up from 175.3m euros in the same period last year, despite group-wide revenues falling to 8.62 billion euros from 8.71bn euros a year earlier.
With 27 manufacturing sites in eight countries it is one of the world’s largest chemical producers.
The group’s latest filings state Ineos’s Grangemouth plant the subject of a major industrial dispute last year is controlled by Ineos AG, a related company of which Ineos group chairman Jim Ratcliffe is one of three shareholders.
The document states that since the divestment of the Grangemouth petrochemical business on October 1, the group has put in place a 200m euro revolving credit facility to fund ongoing operations and investments at the Scottish site.
The facility, 103.1m euros of which had been drawn down by June 30, matures in September 2020 and is secured on the assets of the Grangemouth petrochemical business.
The UK Government this month agreed to provide Ineos with a £230m loan guarantee to help it raise funds to build a major ethane tank and associated terminal at Grangemouth to store shale gas feedstock imported from the US.