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Biz News Korea(Eng)
LG Chem Q2 OP up 18.7% on year, beats market consensus
- Collected
- 2017.07.20
- Distributed
- 2017.07.26
- Source
- Go Direct
In its release of preliminary figures, LG Chem reported an operating profit of 726.87 billion won ($647.3 million), down 8.8 percent from the record-high in the previous quarter but up 18.7 percent on year.
The figure beat market consensus of between 670 billion and 700 billion won.
Shares of LG Chem that closed before the earnings release ended Wednesday at
318,500 won, down 8,000 won or 2.45 percent from the previous session.
Sales for the second quarter rose 22.3 percent on year to reach 6.38 trillion won - second largest-ever. Net profit surged 57.2 percent to 590.3 billion won.
Sales for the first half of this year were up 27.5 percent on year at 12.9 trillion won and net profit up 59.5 percent at 1.14 trillion won.
By Moon Ji-woong
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