POSCO Chemical, 3Q Operating Profit 19.4 Billion KRW... 30.7% Decrease YoY

[Asia Economy Reporter Park So-yeon] POSCO Chemical announced on the 22nd that its consolidated operating profit for the third quarter of this year was tentatively estimated at 19.4 billion KRW, a 30.7% decrease compared to the same period last year. Sales increased by 4.6% year-on-year to 388.7 billion KRW. Net profit fell by 77.2% to 6.9 billion KRW. Compared to the previous quarter, both sales and operating profit improved significantly. POSCO Chemical stated that sales increased by 14.3% quarter-on-quarter due to higher sales volume in the energy materials sector, and operating profit rose by 373% thanks to reduced fixed costs from increased sales of quicklime and improved profitability in the energy materials sector.