Seoul: LG Chem Ltd., South Korea's leading chemical company, reported its second-quarter net profit of 66.8 billion won (US$46.5 million), marking a turnaround from a loss of 111.9 billion won a year earlier.

According to Yonhap News Agency, the company's operating profit for the April-June period was 599.6 billion won, reflecting a 25.8 percent increase from the previous year. Sales during this period rose by 19 percent, reaching 14.17 trillion won.

The reported operating profit exceeded expectations, being 46.2 percent higher than the average estimate from a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, an estimate for the net profit was not available.