LG Chem Q1 net profit down 13 pct to 669.1 bln won

LG Chem-Q1 earnings

LG Chem Q1 net profit down 13 pct to 669.1 bln won

SEOUL, April 27 (Yonhap) -- LG Chem Ltd. on Thursday reported its first-quarter net income of 669.1 billion won (US$500.7 million), down 13 percent from a year earlier.

The company said in a regulatory filing that operating profit for the January-March period fell 22.8 percent on-year to 791 billion won. Revenue increased 24.9 percent to 14.48 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 421.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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