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Lotte Chemical shifts to red in Q1

All News 15:52 May 08, 2020

SEOUL, May 8 (Yonhap) -- Lotte Chemical Corp. on Friday reported its first-quarter net loss of 90.2 billion won (US$ 73.9 million), swinging from a profit of 223.7 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 86 billion won for the January-March period, compared with a profit of 297.8 billion won a year ago. Sales fell 9.6 percent to 3.27 trillion won.

The operating profit was 431.3 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

※ This article was generated by Yonhap's proprietary algorithm using data from Yonhap Infomax and Korea Exchange(KRX).

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