(LEAD) Kumho Petrochemical Q2 net rises 16 pct on rubber demand

Kumho Petrochemical Co. said Friday its second-quarter net profit rose 16 percent from a year earlier helped by robust demand for synthetic rubber. Net profit for the three months to June rose to 131.56 billion won (US$96 million) from 113.51 billion won during the same period of last year, the company said in a regulatory filing. "Increased synthetic rubber demand from tiremakers and latex gloves gave a boost to the quarterly bottom line despite rising logistics costs," a company spokesperson said over the phone. Operating profit climbed 11 percent to 119.15 billion won in the June quarter from 107.65 billion won a year ago. Sales were up 17 percent to 1.85 trillion won from 1.58 trillion won during the cited period. In the third quarter, the company expects synthetic rubber sales will remain robust but higher logistics costs will remain a worry amid global supply disruptions. From January to June, net income fell 6.4 percent to 234.13 billion won from 250.17 billion won in the year-ago period. Kumho Petrochemical has two domestic plants in the southern port cities of Ulsan and Yeosu. Source: Yonhap News Agency