S Korea’s LG Chem Q3 net profit falls 10.2%, sales dip 0.9%

19 October 2012 08:44  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem reported on Friday a third-quarter net profit of won (W) 459bn ($415m), down 10.2% year on year as sales slipped.

Compared with the second quarter, however, net profit rose by 22.8%, although sales were still lower, falling 2.7%, according to a slide presentation of the company’s third-quarter results.

Sales for the three months to September 2012 totalled W5,834bn, with operating profit declining 17% year on year to W601bn, LG Chem said.

Petrochemical sales for the September quarter declined 4.5% year on year to W4,366bn, with operating profit falling 26% to W438bn, it said.

On a quarter-on-quarter basis, earnings from petrochemicals rose 27 % thanks to stable supply raw materials and cost-saving of products despite a slowdown of global economy, LG Chem said.

($1 = W1,105)

By: Pearl Bantillo
+65 6780 4359

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