(MENAFN) As a result for better petrochemical margins amid low oil prices, LG Chem Ltd., South Korea's top chemicals and battery maker, saw its gross profits surge in the Oct-Dec period from 2014.
Accordingly, the company registered a whopping 89.2 rise in net revenues over the cited period from last year hitting USD171.9 million, while it increased 34.5 percent in Jan-Dec to USD950 million.
However, sales plunged 6.2 percent on-year to USD4.2 billion throughout the three months to Dec, and dipped 15.2 percent to USD16.8 billion for the entire year due to global economic slowdown.
For the future, the firm intends to invest USD1.4 billion in facilities and infrastructure in the auto battery businesses, therefore setting its 2016 sales target at an ambitious USD18 billion.
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