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Lotte Shopping swings to black in Q2

Economy 15:32 August 05, 2022

SEOUL, Aug. 5 (Yonhap) -- Lotte Shopping Co. on Friday reported its second-quarter net profit of 45.5 billion won (US$35 million), swinging from a loss of 34.5 billion won a year earlier.

The company said in a regulatory filing that it posted 74.4 billion won in operating profit for the quarter, compared with 7.6 billion won a year ago. Revenue fell 0 percent to 3.9 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 7.4 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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