Go to Contents Go to Navigation

S-Oil Q2 net rises 3.8 pct on refining, petrochemicals

All News 16:37 July 25, 2016

SEOUL, July 25 (Yonhap) -- S-Oil Corp., the No. 3 oil refiner in South Korea, said Monday that its second-quarter net profit gained 3.8 percent from a year earlier, largely thanks to an improvement in its refining business and other areas.

Net profit reached 445 billion won (US$391 million) on a consolidated basis in the April-June period, compared with a profit of 429 billion won a year earlier, the company said in a regulatory filing.

Sales dropped 18.4 percent on-year to reach 4.19 trillion won in the second quarter, while it logged an operating income of 643 billion won, up 6.1 percent over the cited period.

S-Oil said relatively higher cracking margins helped boost its bottom line, with other businesses such as its lubricants unit faring well.

S-Oil expects rising demand from Asia will continue to help refiners this year.

S-Oil closed at 77,300 won on the Seoul bourse, down 1.28 percent from the previous session's close.


Issue Keywords
Most Liked
Most Saved
Most Viewed More
Send Feedback
How can we improve?
Thanks for your feedback!