19% increase expected in LG Chem’s operating profit on robus petrochemicals sales

30-Jul-10
LG Chem, South Korea’s biggest chemicals maker, is expecting to see an increase in operating profit by about 19% this year, propelled by robust demand for petrochemical products and batteries for mobile phones. 2010 operating profits may amount to 2.5 trillion won (US$2.1 bln) as compared with 2.1 trillion won in 2009. Net income jumped 36% from a year earlier to a record 645.7 billion won in the three months ended June 30, driven by Chinese consumption of polymers. Sales of smart phones will boost demand for LG Chem’s batteries in H2-2010.
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