South Koreas SK Lubricants revenue rose marginally in 2014, but its operating profit shot up dramatically from 2013. Indias Gulf Oil Lubricants also made improvements year-over-year in the quarter ending Dec. 31.
SK Lubricants 2014 revenue was just short of 3 trillion won (U.S. $ 2.7 billion), a 7.1 percent increase. The Seoul, South Korea-headquartered base oil and lubricant producers operating profit surged 87 percent from 2013 to around 290 billion won.
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As for the fourth quarter of 2014, SK recorded an operating profit of 71.4 billion won, a 27 percent uptick from the same period the previous year.Its quarterly revenue was 799 billion won, up 7.9 percent fromthe fourth quarter of 2013.