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LG Chem Q1 profit falls YOY

LG Chem Ltd. said its first-quarter normalized net income amounted to 202.50 billion won, a fall of 10.4% from 226.12 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 climbed to 4.3% from 4.0% in the year-earlier period.

Total revenue fell 13.4% on an annual basis to 4.915 trillion won from 5.673 trillion won, and total operating expenses fell 14.3% from the prior-year period to 4.553 trillion won from 5.311 trillion won.

Reported net income totaled 246.00 billion won, compared with 258.15 billion won, or 3,916.63 won per share, in the prior-year period.

As of April 17, US$1 was equivalent to 1,082.30 South Korean won.