Hanwha Chemical Q2 net nearly triples

SEOUL, Aug. 11 (Yonhap) -- Hanwha Chemical Corp., a South Korean chemicals maker,
said Tuesday that its second-quarter earnings nearly tripled from a year earlier
due to rising demand for its key products.
Net profit reached 129 billion won (US$104 million) in the April-June period,
compared with a profit of 47.6 billion won a year earlier, the company said in a
regulatory filing.
Sales, however, fell 8.7 percent to 725 billion won over the cited period, while
operating income surged 69 percent to 136 billion won, it said.
Shares of Hanwha Chemical were trading at 14,100 won on the Seoul bourse as of
11:15 a.m., up 0.71 percent.
Market experts said Hanwha Chemical's business performance will further improve
as its parent company, Hanwha Group, plans to boost its chemical business.
Last month, the group said it will invest 6.5 trillion won in petrochemicals and
clean-energy projects including solar power by 2011.
sam@yna.co.kr
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