Strong demand propels YNCC's Q3 net profit by 79%

23-Nov-11

Yeochun Naphtha Cracking Center (YNCC)’s Q3 net profit surged 78.7% year-on-year to Won 129 bln (US$112.6 mln) due to solid demand for its products, as per Platts. YNCC is South Korea's largest producer of ethylene. Its operating profit rose 71.1% yoy to Won 178.8 bln in the quarter ended September, while sales gained 33.8% to Won 2.06 trillion. However, the first nine months of this year saw net profit fall by 21.2% yoy to Won 241.3 bln, despite a 19.9% rise in sales to Won 5.61 trillion, due to higher material costs. NCC has a production capacity of 1.91 mln tpa of ethylene, accounting for 24.9% of South Korea's total ethylene production capacity. Other capacities include 970,000 tpa propylene, 240,000 tpa butadiene and 780,000 tpa benzene.