LG Chem, a leading Korean chemicals and rechargeable battery maker, said Friday that its operating profit in the first quarter of this year fell 8.5 percent to 408.9 billion won ($366.4 million) compared with the same period a year ago due to the continued minus growth in its battery business.
The company said its sales and net profit also dropped 0.6 percent to 5.7 trillion won ($5.1 billion) and 10.6 percent to 340.4 billion won ($350 million), respectively.
Operating profit of two other business divisions ― chemicals & polymers, information technology & electronic materials ― grew 10.1 percent and 14.7 percent, respectively, during the period.
But the company remained positive over the outlook of the second quarter as its officials said its sales and profit increased when compared with the previous quarter.
