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GS-Caltex's net edges up in 2017 on rising oil prices

2018/02/08 17:50

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SEOUL, Feb. 8 (Yonhap) -- GS-Caltex Corp., the second-largest refiner in South Korea, said Thursday its net profit increased 1.5 percent from a year earlier, largely thanks to rising global oil prices.

Net profit reached 1.44 trillion won (US$1.32 billion) in 2017, compared to 1.42 trillion won posted the previous year, the company said. GS-Caltex is an unlisted firm.

Operating profit dropped 6.5 percent to 2 trillion won, while sales soared 17.6 percent to 30.3 trillion won during the cited period, it said.

Its refining business logged 1.34 trillion won in operating income last year on sales of 23.4 trillion won.

The company's chemical business racked up an operating profit of 463.6 billion won on sales of 5.77 trillion won, while the lubricant unit posted 196.4 billion won of operating income on 1.13 trillion won of revenue, the company said.