Lotte Chemical shifts to black in Q3

SEOUL, - Lotte Chemical Corp. on Thursday reported its third-quarter net income of 32.8 billion won (US$25 million), shifting from a loss of 31.1 billion won a year earlier.

Operating profit for the July-September period was 28.1 billion, compared with a loss of 451.3 billion won a year ago, the company said in a regulatory filing. Sales fell 12.5 percent to 4.81 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 4.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency

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