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LG Chem reports lower second-quarter profits, flat revenues

4:35 AM MDT | July 18, 2014 | Natasha Alperowicz

LG Chem (Seoul) today reported a 43% drop in second-quarter net profit, to 226.8 billion South Korean won ($220.3 million), citing poor performance in its chemical sales and a strong local currency. Sales were 0.8% higher, at won5.87 trillion, while operating profit was down 28%, to won359.6 billion.   The company says the results reflect weak earnings in the petrochemical and auto battery sectors. "The performance was worse than expected, as we failed to offset the weak global chemical demand despite various efforts," LG Chem president Cho Seok-je...

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