SK Gas Reports 22% Drop in Operating Profit Last Year Due to Decline in LPG Sales
SK Gas announced on the 6th that its operating profit on a consolidated basis for last year was tentatively estimated at 303.7 billion KRW, a 22.2% decrease compared to the previous year.
Sales revenue was 6.994 trillion KRW, down 13.3%. Net profit for the period increased by 22.2% to 314.2 billion KRW.
In the fourth quarter of last year, the company recorded an operating loss of 28.6 billion KRW, turning to a loss compared to the previous quarter and the same period last year. Sales revenue was 1.6299 trillion KRW, down 16.5% from the same period last year.
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The company explained, "Sales revenue decreased compared to the previous year due to the decline in international prices of liquefied petroleum gas (LPG), and operating profit decreased due to a reduction in sales of petrochemical LPG."
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