Kumho Petrochemical reports sharp Q1 profit drop as revenue falls across segments

Kumho Petrochemical said on the 7th that, on a consolidation basis, operating profit for the first quarter came to 59.4 billion won, down 50.75% from a year earlier.

Kumho Petrochemical's first-quarter revenue was 1.78 trillion won, down 6.72% from a year earlier. Net profit was 96.3 billion won, also down 22.86% from a year earlier.

By business segment, first-quarter revenue from synthetic rubber was 733.5 billion won, down from 757.2 billion won a year earlier. First-quarter revenue from synthetic resin also fell to 301.8 billion won from 336 billion won a year earlier. Revenue from phenol derivatives decreased to 399.2 billion won from 431.7 billion won a year earlier.