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LG Chem's Profits Fall on Slower Chinese Growth, Higher Naphtha Costs

8:41 AM MDT | July 18, 2012 | Ian Young

LG Chem, Korea's biggest chemical company by sales, posted a 40% decline in second-quarter 2012 net profits compared with the same period of 2011, to won373.8 billion ($327 million) on sales up 5%, to won6 trillion. The results reflect higher petrochemical feedstock costs and weakening demand in China, where economic growth is slowing, the company says today in a regulatory filing. Net profits fell short of analysts' forecasts of about won383 billion. LG Chem's operating profits fell 35% year on year in the second quarter, to won503 billion. Operating...

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