LG Chem, the largest chemical company in Korea, set a string of new earnings records in the second quarter of this year. Its quarterly sales reached an all-time high, while its operating profit hit the highest in six years.
Boosted by the strong second-quarter results, its first-half sales broke the 12-trillion-won level, the highest in its history. LG Chem announced on July 19 that it posted consolidated sales of 6.38 trillion won and consolidated operating profit of 726.9 billion won in the second quarter of this year.
Year on year, sales rose 22.3 percent and operating profit 18.7 percent, respectively. The second-quarter operating profit was the highest second-quarter figure since 2011 (775.4 billion won). The first half sales amounted to 12.86 trillion won, up 27.5 percent year on year.
The basic materials business chalked up its highest operating profit in the second quarter, while the battery cell business took a profitable turnaround, making a great contribution to the record-breaking results.
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