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Lotte Fine Chemical Q1 net income down 26.9 pct to 29.6 bln won

All News 13:47 April 27, 2022

SEOUL, April 27 (Yonhap) -- Lotte Fine Chemical Co. on Wednesday reported its first-quarter net profit of 29.6 billion won (US$23.4 million), down 26.9 percent from a year earlier.

The company said in a regulatory filing that it posted 110.3 billion won in operating profit for the quarter, compared with 35.5 billion won a year ago. Sales rose 89.7 percent to 652.3 billion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 60.8 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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