LG Chem Q1 net income down 48.9 pct to 341.7 bln won

SEOUL, LG Chem Ltd. on Tuesday reported its first-quarter net profit of 341.7 billion won (US$248.1 million), down 48.9 percent from a year earlier. Operating profit for the January-March period was 264.6 billion won, down 67.1 percent from a year ago, the company said in a regulatory filing. Revenue fell 18.7 percent to 11.6 trillion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 105.9 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency