S Korea's LG Chem Q3 net profit down 12.1% quarter on quarter

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)

By: Nurluqman Suratman

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