South Korea's GS Caltex swings back to profit in Q3

摘要

Seoul-GS Caltex, South Korea's second-largest oil refiner, November 6 posted net profit of Won 115.5 billion ($98.8 million) for the third quarter of 2009, turning around a net loss of Won 272.4 billion in the same period a year ago, mainly due to foreign exchange gains. But operating profit for the quarter plunged 78.8% year on year to Won 14.6 billion, from Won 68.8 billion in 2008, due to setbacks in its mainstay petroleum segment, the company said.