SK(003600): Aromatics to drive 3Q06 earnings
- 2Q comment
- Reiterate BUY and TP of KRW85,000
> Despite seasonal sluggishness and maintenance shutdown at the refining division, 2Q06 OP increased to KRW307.1bn (+19.4% y/y, -14.1% q/q) on the back of
a) strong international refining margin,
b) robust BTX and PX profits, and
c) enhanced profitability at the E&P division.
> SK to post strong 3Q06 OP of KRW354.7bn(+6.5% y/y, +15.5% q/q) on soaring BTX and PX prices. |
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