LX International said on the 29th that its first-quarter operating profit on a consolidation basis was tentatively tallied at 108.9 billion won, down 6.8% from the same period a year earlier.
Revenue came to 4.2113 trillion won, up 4% from the same period. Net income was tallied at 73.5 billion won, down 33.4%.
LX International said revenue increased thanks to higher production and sales volumes at key assets such as the AKP nickel mine and palm plantation in Indonesia, but operating profit fell due to lower ocean freight rates.
An LX International official said, "Even amid an uncertain business environment with heightened volatility in resources and logistics market conditions, we are focusing on improving the efficiency of core asset operations and generating stable cash."
The official added, "We will accelerate diversification and transition of our business portfolio and focus on delivering tangible results by investing in future-promising minerals such as nickel, bauxite and copper, exploring new markets and expanding new businesses, and entering new growth areas such as energy infrastructure and power solutions."