Most of LG Chem sees drop in operating profitsLG Chem said yesterday that its operating profits in the first quarter fell 8.5 percent to 408.9 billion won ($366 million). Revenue shrank 0.6 percent to 5.7 trillion won, while net profit lost 10.6 percent to 340 billion won. By business, petrochemical saw the sharpest decline as its operating profit fell 11.4 percent to 323.8 billion won.
The battery business, which posted a 11.6 billion won operating profit last year, turned around to post a 12 billion won loss. The company’s information electronics material business was the only area that saw a significant increase as operating profit was up 40.3 percent from 69.4 billion won to 97.4 billion won.