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Lotte Chilsung Beverage swings to black in Q4

All News 14:29 February 06, 2023

SEOUL, Feb. 6 (Yonhap) -- Lotte Chilsung Beverage Co. on Monday reported its fourth-quarter net profit of 5.8 billion won (US$4.6 million), swinging from a loss of 3.2 billion won a year earlier.

The company said in a regulatory filing that it posted 24.4 billion won in operating profit for the quarter, compared with 18.9 billion won a year ago. Revenue rose 11.6 percent to 669 billion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 8.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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