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South Korea’s LG Chemical posts stronger Q2 earnings

by ChemOrbis Editorial Team -
  • 21/07/2015 (10:49)
In a statement on the company’s website, South Korea’s LG Chemical announced its financial results for the second quarter. The company’s net profit climbed 43.3% on the quarter to KRW352.9 billion ($305.26 million). The company’s net profit also surged 55.6% on a year over year basis.

The company’s sales gained 3.2% on a quarterly basis to KRW5.07 trillion ($4.39 billion) in the first quarter of this year while operating profit surged 55.7% to KRW563.4 billion ($487.3 million) on a quarterly basis while posting an increase of 56.7% on a yearly basis.

Meanwhile, basic materials and chemicals showed an improved performance in the quarter due to sales growth for premium products. The statement forecasted that earnings for the basic materials and chemicals segment would keep rising on the back of strong seasonal demand.
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