Honam Petchem posts 34% fall in Q1 EBITA

15 May 2008 12:08  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea's Honam Petrochemical Corp (HPC) has posted a 34.2% year-on-year fall in its first-quarter earnings before interest, taxes and amortisation (EBITA) to won (W)131.8bn ($125.76m) on high naphtha and raw material prices, the company said on Thursday.

The rising prices of naphtha and other raw material prices had led to the drop in income despite a rise in total sales, the company added in a statement.

The company posted a 33.5% increase in total sales to W738bn while net profits fell 35% to W97.77bn.

($1 = KRW 1048)

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By: Brian Myung
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