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LG Chem reports fall in profits and sales

9:31 AM MDT | April 19, 2013 | Deepti Ramesh

LG Chem posted a 10.6% decline in net profits for the first quarter of 2013 compared with the year-ago period, to 340.4 billion South Korean won ($305 million). First-quarter sales decreased 0.5%, to won5.72 trillion. Operating profits decreased 8.5% in the first quarter compared with the corresponding period of last year, to won408.9 billion. The overall profitability of LG Chem’s petrochemicals business has improved despite a slump in the market and high feedstock prices, mainly because of increased selling prices and higher sales of major downstream...

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