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SK Energy's Petchem Business Reports Fall in Third-Quarter Profits

2:38 AM MDT | October 22, 2010 | Deepti Ramesh

SK Energy (Seoul) says its petrochemical business recorded a 56% fall in operating profits for the third quarter, to won76.6 billion ($68 million) compared with the year-ago period. However, sales for the petchem business increased 2%, to won2.76 trillion. “The business had a weak performance as all product spreads showed the lowest level this year in July and remained weak throughout the third quarter,” SK Energy says. “The weak profitability of the business was largely due to the weak performance of its aromatic products, which accounts for...

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