SEOUL — Lotte Fine Chemical Co. has experienced an 85.1 percent decline in its fourth-quarter net profit, which stood at 9.7 billion won ($7.3 million).
According to Yonhap News Agency, The company's regulatory filing showed that operating income for the quarter also dropped by 80.7 percent to 8.5 billion won, with revenue decreasing by 17.2 percent to 411.3 billion won. Despite these declines, the company's earnings surpassed market expectations, with analysts predicting an average net profit of 3.3 billion won, as surveyed by Yonhap Infomax.
This performance indicates a challenging quarter for Lotte Fine Chemical, albeit with outcomes better than market forecasts, highlighting the company's ability to navigate through tough market conditions.