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LG Chem's Profits and Sales Soar

7:28 AM MDT | October 16, 2008 | Deepti Ramesh

LG Chem has recorded a 43% increase in net profits, to won301 billion ($249 million) for the third quarter. And sales for the period increased by 47% to won4.06 trillion, say reports. LG Chem’s electronic materials business, which makes lithium-ion batteries, reported a 81% increase in operating profit to won104.8 billion. Despite the fact that global demand for petrochemicals is falling, LG Chem expects to continue its good results in the fourth quarter, as production and demand for its cells and batteries are rising, report say. And the depreciating value...

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