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S. Korea’s LG Chemical posts Q1 earning statement

by ChemOrbis Editorial Team -
  • 20/04/2015 (11:13)
In a statement on the company’s website, South Korea’s LG Chemical announced its financial results for the first quarter. The company’s net profit climbed 125% on the quarter to KRW246.1 billion ($228.2 million). However, the company’s net profit declined 14% on a year over year basis.

The company’s sales declined 8.5% on a quarterly basis to KRW 4.92 trillion ($4.56 billion) in the first quarter of this year while operating profit surged 56.2% to KRW 361.8 billion ($335.7 million) on a quarterly basis while posting a slight decline on a yearly basis owing to lower prices for key raw materials for chemical products and increased sales of premium products.
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