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Lotte Chemical 2016 net up 81 percent on widening margin spreads

All News 16:42 February 02, 2017

SEOUL, Feb. 2 (Yonhap) -- Lotte Chemical Corp., a major chemicals firm here, said Thursday that its earnings surged 81 percent last year from a year earlier as margin spreads on its key products widened thanks to stable demand.

Net profit reached 1.79 trillion won (US$1.55 billion) last year, compared with a profit of 990 billion won a year earlier, the company said in a regulatory filing.

Operating income also spiked 58 percent on-year to reach a record 2.55 trillion won last year, while sales soared 13 percent to 13.22 trillion won over the cited period.

During the fourth quarter of last year, its operating income more than doubled to 737 billion won from a year earlier, and sales gained 36 percent to 3.67 trillion won over the cited period, it said.


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