SEOUL – Lotte Chilsung Beverage Co. reported a decrease in net income for the second quarter, contrary to the growth in revenue and a slight increase in operating profit.
According to Yonhap News Agency, Lotte Chilsung's net income for the April-June period fell to 21.1 billion won ($15.2 million), a 36.1 percent decrease from the previous year. However, the company did experience a 1.8 percent rise in operating profit, totaling 60.2 billion won, and a significant 38.1 percent increase in revenue, reaching 1.09 trillion won. Despite these gains, the company's earnings did not meet market expectations, with analysts initially projecting a net profit of 30.8 billion won, as surveyed by Yonhap Infomax.