[Featured Stock] LX International Rises 6% on Energy and Palm Price Increase Benefits

[Asia Economy Reporter Minji Lee] Despite the sluggish domestic stock market, LX International is showing an increase of over 6%.

At 9:58 AM, LX International was trading at 33,850 KRW, up 6.95% compared to the previous trading day. During the day, the stock price surged to as high as 34,150 KRW.

In the fourth quarter of last year, LX International recorded sales of 4.5506 trillion KRW, a 35% increase compared to the same period the previous year, and operating profit of 207.6 billion KRW, a 363.4% increase. Lee Sangheon, a researcher at Hi Investment & Securities, analyzed, "In the energy and palm sectors, profitability significantly improved due to increased production amid rising prices of coal and palm products," adding, "In the logistics sector as well, the increase in freight rates and cargo volume led to a substantial rise in profits."

Due to Russia's invasion of Ukraine, energy supply instability and food supply issues are intensifying, so the trend of improving performance is expected to continue. The researcher stated, "In the first half of this year, the improvement in performance may accelerate as price increases and production growth in the energy and palm sectors are reflected."

This content was produced with the assistance of AI translation services.