Lotte Shopping turns to profits in Q3

SEOUL, Nov. 6 (Yonhap) -- Lotte Shopping Co. on Friday reported its third-quarter net profit of 3 billion won (US$2.7 million), shifting from a loss of 23.3 billion won a year earlier.

The company said in a regulatory filing that it posted 111 billion won in operating profit for the quarter, compared with 87.6 billion won a year ago. Revenue fell 6.8 percent to 4.1 trillion won.

The operating profit was 24.2 percent higher 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.
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