Lotte Chemical’s Annual Profits Cross Rs. 400 Million Mark

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Lotte Chemical’s Annual Profits Cross Rs. 400 Million Mark
Lotte Chemical’s Annual Profits Cross Rs. 400 Million Mark

Lotte Chemical Pakistan Limited turned to profit with earnings of Rs 412 million, up by 27.55% by December 31, 2017, according to a bourse filing on Friday.

The chemical manufacturer had booked a profit of Rs 323 million in the same period of previous year.
It reported earnings per share of Rs 0.27 in the current period compared to earnings per share of Rs 0.21 last year.


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The company also announced a cash dividend Rs 0.20 per share.

Lotte Chemical also reported a revenue increase of 6.47% to reach Rs. 37.034 billion, up from Rs. 34 billion during the same period last year.

The company’s Gross Margin saw a 69% rise during the period, clocking in at Rs. 1.197 billion during the year under review. LOTTE releases on the exchange show a decent performance during the year ending December, 2017.

At the time of filing this report, LOTCHEM’s share at the exchange was trading at Rs 8.78, up by +0.57% with a turnover of 24.77 million shares.

Lotte Chemical Pakistan Ltd. (LCPL) is a manufacturer and supplier of Purified Terephthalic Acid (PTA). With a plant at Port Qasim, it has a capacity to deliver 500,000 tons of PTA annually. PTA is the primary raw material for producing Polyester fiber, Polyester filament yarn, Polyester film and Polyethylene Terephthalate (PET).

75 percent of the shares of Lotte Chemical Pakistan Limited are owned by Lotte Chemical Corporation, South Korea and 18 percent are owned by individuals. The remaining 7 percent are owned by investment companies, financial institutions and other corporate bodies.

Originally Published on ProPakistani.com

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