Posco Chemical Q3 net income up 496.6% to W40.9b

POSCO Chemical Co. on Thursday reported its third-quarter net income of 40.9 billion won ($34.8 million), up 496.6 percent from a year earlier.

The company said in a regulatory filing that it posted 31.5 billion won in operating profit for the quarter, compared with 19.4 billion won a year ago. Sales rose 29.9 percent to 505 billion won.

The operating profit was 9.4 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. (Yonhap)