LG Chem's Q2 profit jumps 31.2 pct

SEOUL, July 16 (Yonhap) -- South Korea's largest chemicals maker, LG Chem Ltd., said Thursday its second-quarter net profit jumped 31.2 percent from a year ago thanks to a robust recovery in its etrochemical division and rising sales in China

LG Chem's net profit in the April-June period rose to 467.1 billion won (US$368
million) from 356.1 billion won for the same period a year ago, the company said
in a regulatory filing. Quarter-on-quarter, net profit soared 61.9 percent.
Second-quarter operating profit also rose 26.6 percent from a year ago to 563
billion won. Sales increased 5 percent to 3.4 trillion won.
LG Chem said the outlook for the third-quarter seems favorable.
"Robust earnings are likely in the third-quarter as prices for petrochemical
products have been strong in China and the Middle East," the company said in a
statement.
The earnings results were released after the stock market closed. Shares of LG
Chem closed at 138,500 won, up 0.73 percent.
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