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LG Chem Q2 profit climbs 40.3% YOY

LG Chem Ltd. said its normalized net income for the second quarter came to 6,479.75 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 6,921.52 won per share.

EPS increased 49.6% year over year from 4,330.01 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 446.72 billion won, an increase of 40.3% from 318.51 billion won in the year-earlier period.

The normalized profit margin rose to 7.0% from 6.1% in the year-earlier period.

Total revenue grew 22.3% on an annual basis to 6.382 trillion won from 5.219 trillion won, and total operating expenses grew 22.8% year over year to 5.655 trillion won from 4.607 trillion won.

Reported net income increased 37.8% year over year to 519.20 billion won, or 7,531.11 won per share, from 376.91 billion won, or 5,123.94 won per share.

As of Aug. 14, US$1 was equivalent to 1,139.03 South Korean won.