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LG Chem reports fall in profits

4:22 AM MDT | October 18, 2013 | Deepti Ramesh

LG Chem reports a 23.2% decrease in net profits for the third quarter compared with the year-ago period, to 352.3 billion South Korean won ($332 million). Third-quarter sales increased 1.2%, however, to won5.87 trillion. Operating profits decreased 14% in the third quarter compared with the corresponding period of last year, to won516.3 billion. The profitability of LG Chem’s petrochemicals business improved because of higher product prices and firm sales in the polyolefins business, despite a slowdown in the synthetic rubber market, LG Chem says. LG...

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