ID :
198061
Fri, 07/29/2011 - 12:13
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Shortlink :
https://oananews.org//node/198061
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Honam Petrochemical's Q2 net up 15.6 pct
SEOUL, July 29 (Yonhap) -- Honam Petrochemical Corp., South Korea's second-biggest ethylene producer, said Friday that its net profit rose 15.6 percent in the second quarter from a year earlier on brisk sales.
Net income came to 296.4 billion won (US$281.3 million) in the April-June period, compared with a profit of 256.3 billion won last year, Honam Petrochemical said in a regulatory filing.
Sales jumped 45.4 percent on-year to 3.96 trillion won and operating profit rose 43.4 percent to 368.1 trillion won during the cited period.
"Increased sales of our key products, coupled with the price hike of butadiene rubber, contributed the second-quarter strong performance," a company official said.
The petrochemical producer also said that its first-half sales surged 51.6 percent on-year to 7.89 trillion won, with a net profit reaching 740.9 billion won.
Shares of Honam Petrochemical, which is the chemical unit of South Korean conglomerate Lotte Group, closed at 432,000 won on the Seoul bourse, down 1.37 percent.
Net income came to 296.4 billion won (US$281.3 million) in the April-June period, compared with a profit of 256.3 billion won last year, Honam Petrochemical said in a regulatory filing.
Sales jumped 45.4 percent on-year to 3.96 trillion won and operating profit rose 43.4 percent to 368.1 trillion won during the cited period.
"Increased sales of our key products, coupled with the price hike of butadiene rubber, contributed the second-quarter strong performance," a company official said.
The petrochemical producer also said that its first-half sales surged 51.6 percent on-year to 7.89 trillion won, with a net profit reaching 740.9 billion won.
Shares of Honam Petrochemical, which is the chemical unit of South Korean conglomerate Lotte Group, closed at 432,000 won on the Seoul bourse, down 1.37 percent.
