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LG Chem Q2 net jumps 9.3 pct on petrochemical margins

All News 09:50 July 21, 2016

SEOUL, July 21 (Yonhap) -- LG Chem Ltd., South Korea's leading chemicals and battery maker, said Thursday its net profits soared 9.3 percent in the second quarter from a year earlier thanks to improved petrochemical margins amid low oil prices.

Net income came in at 386 billion won (US$338 million) on a consolidated basis in the April-June period, compared with a profit of 353 billion won a year earlier, the company said in a regulatory filing.

Operating income advanced 9.3 percent on-year to reach 616 billion won, while sales gained 2.8 percent on-year to 5.27 trillion won.

Shares of LG Chem were trading at 256,500 won on the Seoul bourse as of 9:33 a.m., up 0.2 percent from the previous session's close. The second-quarter earnings results were released after the market opened.


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