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LG Chem Q2 profit climbs 52.8% YOY

LG Chem Ltd. said its second-quarter normalized net income was 308.13 billion won, a rise of 52.8% from 201.69 billion won in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 6.9% from 3.4% in the year-earlier period.

Total revenue decreased 13.6% year over year to 5.073 trillion won from 5.869 trillion won, and total operating expenses decreased 18.1% year over year to 4.510 trillion won from 5.509 trillion won.

Reported net income came to 353.00 billion won, compared with 203.68 billion won, or 3,090.20 won per share, in the year-earlier period.

As of July 17, US$1 was equivalent to 1,149.19 South Korean won.