SK Chemical, 3Q Operating Profit 103.1 Billion KRW... 97% Increase YoY (Update)
[Asia Economy Reporter Choi Dae-yeol] SK Chemicals announced on the 3rd that its consolidated operating profit for the third quarter reached 103.1 billion KRW, a 97% increase compared to the same period last year. Sales rose 50% to 527.4 billion KRW during the same period.
Both operating profit and sales for the quarter were at record highs. Due to the reflection of gains and losses related to the sale of the PPS business, a net loss of 2.9 billion KRW was recorded. In the previous second quarter, operating profit was 86.1 billion KRW and sales were 435.7 billion KRW.
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The main businesses, copolyester and the subsidiary SK Bioscience's vaccine business, showed strong performance, improving the results. A company official stated, "In the fourth quarter, sales of the eco-friendly recycled raw material copolyester are expected to increase, and by expanding the pharmaceutical product lineup, we anticipate continuing a favorable growth trend in performance. Especially, by restructuring the portfolio centered on the eco-friendly materials business, profitability is expected to improve."
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