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South Korea’s S-Oil posts stronger financial results for Q2

by ChemOrbis Editorial Team - content@chemorbis.com
  • 25/07/2016 (09:42)
According to media reports, South Korea’s S-Oil posted stronger financial results for the second quarter with its net profit rising 3.8% on the year to 445 billion won ($391 million) on a consolidated basis in the April-June period. In the same period of 2015, the company’s net profit was 429 billion won.

The stronger financial results were attributed to refining and petrochemical margins. The company’s sales, meanwhile, declined 18.4% on the year to 4.19 trillion won ($3.68 billion) in the second quarter.

S-Oil expects that stronger demand in Asia will continue to boost its refining business this year.
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