SK Innovation warns refining recovery to take time, beats Q1 profit estimates

SEOUL, May 13 (Reuters) - SK Innovation 096770.KS, owner of South Korea's top refiner SK Energy, said on Wednesday the normalisation of production and logistics of its refining business is expected to take time even if the Middle East conflict is resolved.

The company posted an operating profit of 2.2 trillion won ($1.48 billion) for the January-March period, versus a 30 billion won loss a year earlier. That compared with a 1.4 trillion won forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.

($1 = 1,488.4000 won)