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Source: media reports

SK Energy Q4 operating profit up 45%

SK Energy Q4 operating profit up 45%
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First Published: Thu, Jan 22 2009. 01 24 PM IST
Updated: Thu, Jan 22 2009. 01 24 PM IST
Seoul: SK Energy, South Korea’s top refiner, posted a weaker-than-expected 45 percent rise in fourth-quarter core profit on Thursday, as a slowing global economy reduced demand for petrochemical products.
Operating profit between October and December jumped to 269 billion won ($196 million) from 185.8 billion won a year ago, but was below a Reuters forecast of 381 billion won.
It swung to a net loss of 66.5 billion won last quarter, hit by foreign exchange losses and a fall in investment gains from its affiliates.
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First Published: Thu, Jan 22 2009. 01 24 PM IST