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Lotte Shopping shifts to loss in Q1

All News 15:39 May 14, 2020

SEOUL, May 14 (Yonhap) -- Lotte Shopping Co. on Thursday reported its first-quarter net loss of 43.3 billion won (US$ 35.3 million), shifting from a profit of 109.2 billion won a year earlier.

The company said in a regulatory filing that it posted 52.1 billion won in operating profit for the quarter, compared with 205.3 billion won a year ago. Revenue fell 8.3 percent to 4.07 trillion won.

The operating profit was 44.2 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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