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OCI Returns to Profitability in Q2

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Chemicals company OCI (KRX:456040) posted attributable net income of nearly 30 billion won in the second quarter compared with a loss of 722 million won a year earlier.

Sales rose 1.5% to over 535 billion won for the three months ended June 30, from 527 billion won in the prior-year quarter, according to a filing on Wednesday.

For the first half of the year, cumulative attributable net income reached 54.8 billion won compared with a loss of 16.5 billion won a year earlier, while sales declined 2.3% to 1.041 trillion won from 1.066 trillion won.

The company attributed the turnaround in profitability to strong performance across its business segments, though it noted that the interim figures have not yet been reviewed by external auditors and remain subject to change.

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