LG Chem on Nov. 5 posted in its preliminary earnings filing a third-quarter operating profit of 561.2 billion won ($418.6 million), down 17.4 percent from a year earlier, as its petrochemical business swung to a loss. Revenue rose 34.0 percent to 15.5 trillion won.
The company swung to a net loss of 600 billion won from a net profit of 447.3 billion won a year earlier. Battery subsidiary LG Energy Solution’s operating profit grew 25.7 percent to 756.0 billion won, while the petrochemical unit lost 175.6 billion won.
For the full quarterly results, read our earlier report.
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