LG Chem Reports Rise in Profits and Sales

LG Chem informed the Korea Exchange that it has reported a 27% increase in net profits for the first quarter of 2011, to won657 billion ($604 million), compared with the year-ago period. Sales increased 24%, to won5.49 trillion. The improvement in the financial performance was mainly due to a rise in demand from Asia, including China, and also as a result of the earthquake and tsunami that hit Japan on March 11, that disrupted the operations of chemical producers in Japan, reports say, LG Chem’s petrochemical business recorded a 50% rise in operating...

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