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LG Chem reports rise in profits

7:28 AM MDT | July 22, 2013 | Deepti Ramesh

LG Chem posted a 7.2% increase in net profits for the second quarter compared with the year-ago period, to 401 billion South Korean won ($358 million). Second-quarter sales decreased 1.1%, however, to won5.92 trillion. Operating profits increased 0.5% in the second quarter compared with the corresponding period of last year, to won501.5 billion. The profitability of LG Chem’s petrochemicals business improved because of the stable price for feedstock and a strategic business portfolio, which focused on premium high-end products. Plus, attempts to...

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