LG Petrochemical Profit Surges

LG Petrochemical Co., a South Korean maker of petrochemical goods, said Friday its second-quarter net profit rose more than seven-fold from a year ago.

Net income came to 66.9 billion won ($73 million) in the April-June period, up 604 percent from 9.5 billion won a year earlier, LG Petrochemical said in a filing with the Korea Exchange.

Operating profit skyrocketed 708.4 percent to 90 billion won in the second quarter and sales rose 42 percent to 639 billion won.

In the first half, LG Petrochemical's net profit posted 272percent to 161 billion won from a year earlier and operating profit jumped 305.6 percent to 216 billion won.