Seoul: Lotte Chilsung Beverage Co. on Wednesday reported a net loss of 43.9 billion won (US$30.3 million) for the fourth quarter, maintaining its position in the red compared to the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that it suffered an operating loss of 12 billion won during the October-December period, a reversal from a profit of 9.2 billion won in the same quarter last year. Additionally, the revenue experienced a decline of 3.1 percent, amounting to 894.3 billion won.
The reported loss was 661.3 percent higher than the average estimate, based on a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.