LG Chem Q2 net income down 91.1 pct to 59.8 bln won

LG Chem Ltd. on Thursday reported its second-quarter net income of 59.8 billion won (US$43.1 million), down 91.1 percent from a year earlier. The company said in a regulatory filing that operating profit for the April-June period fell 34.3 percent on-year to 405.9 billion won. Revenue decreased 14.2 percent to 12.29 trillion won. The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 183.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency