SK chemicals said it reported sales of 296.3 billion won ($226.3 million) and an operating profit of 23.9 billion won ($18.3 million) in the third quarter. Compared to a year earlier, sales and operating profit decreased by 8.6 percent and 30.8 percent, respectively.

By business division, the green chemicals business posted sales of 199 billion won and an operating profit of 17.4 billion won in the third quarter. Compared to the same period of the previous year, sales decreased by 4 percent and operating profit decreased by 32.1 percent. The company attributed its sluggish performance to a weaker global demand.

The pharmaceutical business in the life science segment posted sales of 97.8 billion won and operating profit of 11.5 billion won in the third quarter. Compared to a year ago, sales went up 23 percent and operating profit, 14 percent. This was driven by more sales of existing natural osteoarthritis treatments and products introduced to expand the portfolio.

On a consolidated basis which includes earnings by its subsidiary SK bioscience, SK chemicals reported 581.5 billion won in revenue and 83.4 billion won in operating profit for the third quarter. Compared to the third quarter of last year, sales  grew 34.4 percent and operating profit increased 67.6 percent.

SK bioscience posted sales of 231.8 billion won and an operating profit of 60.9 billion won in the third quarter. Year-on-year, sales and operating profit surged 154.6 percent and 185.3 percent, respectively. Sales and profitability improved as flu vaccinations began, the company explained.

"Although the business environment remains uncertain with high oil prices expected in the fourth quarter, we will continue to improve our performance based on a solid portfolio with high-value-added products and steady sales in the pharmaceutical business," an SK chemicals official said.