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LG Chem reports falls in profits, sales

3:09 AM MDT | April 22, 2014 | Deepti Ramesh

LG Chem reports a 16% decline in net profits for the first quarter of 2014 compared with the year-ago period, to 286 billion South Korean won ($275 million). First-quarter sales decreased 0.8%, to won5.67 trillion. Operating profits decreased 11.4% in the first quarter compared with the corresponding period of 2013, to won362.1 billion. The overall profitability of the company’s petrochemicals business has improved, LG Chem says. The petrochemicals business performance was steady during the quarter despite a slow recovery in demand, due to the...

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