Seoul - Lotte Fine Chemical Co. has reported a significant turnaround with a net income of 43.3 billion won (US$31.3 million) for the second quarter, recovering from a minor loss the previous year.
According to Yonhap News Agency, The company revealed in its regulatory filing that while it achieved a profit in the second quarter, its operating profit saw a steep decline of 75.3 percent to 17.1 billion won, and revenue also decreased by 2.1 percent to 422.1 billion won compared to the same period last year. These figures did not meet market expectations, with analysts surveyed by Yonhap Infomax having predicted a net profit of around 50 billion won. This financial performance highlights challenges in the company's profitability despite returning to net gains.