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LG Chem Posts a Decline in Profits

8:02 AM MST | January 31, 2012 | Ian Young

LG Chem reported a 13% decline in net profits for the fourth quarter of 2011, compared with the same period of 2010, to won381.8 billion ($340 million) on sales up 12%, to won5.6 trillion. Operating profits also dropped 10%, to won506.7 billion. LG Chem included the figures in a regulatory filing today. Further details of the fourth-quarter results were not disclosed. LG Chem says it expects earnings to improve in the first quarter of 2012 with higher prices for petrochemicals and improved supply-demand conditions, due partly to planned maintenance turnarounds at...

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