18 October 2013 09:14 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s LG Chem said on Friday its third-quarter net profit fell 12.1% quarter on quarter to won (W) 352.3bn ($332m) on the back of the slowdown in the synthetic rubber market.
Its sales slipped by 0.9% quarter on quarter in July-September this year to W5,870bn, while its operating profit was up by 3% at W516.3bn, it said in a statement.
The company did not disclose year-on-year figures in the statement.
Looking ahead, the company expects a gradual recovery of the petrochemical market, supported by the “stable price of naphtha”.
“This will also boost up the synthetic rubber price although the overall quarter may face a period of off-seasonal demand,” it added.
($1 = W1,062)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections