29 January 2010 09:44 [Source: ICIS news]
SINGAPORE (ICIS news)--LG Chem's operating profits of its petrochemical arm surged to won (W) 251bn in the fourth-quarter of last year, reversing a net loss of W85bn over the same period in 2008, the South Korean producer said on Friday.
The company’s petrochemical arm operating profits quarter on quarter, however, almost halved from W519bn reported in the third quarter of 2009.
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Overall, LG Chem’s consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for the whole of 2009 rose 51% higher to W2,818bn from W1,864bn in 2008.
The company also reported a 69% increase in its operating profits in the whole of 2009 to W2,235bn from W1,321bn in the previous year.
Sales were up 8.6% to W15,801bn, while consolidated net income last year was W209bn as compared to W62bn in 2008.
($1 USD = W1,161.55)
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