SEOUL — In a sharp reversal from the previous year, OCI Holdings Co. reported a fourth-quarter net loss of 17.8 billion won (US$13.4 million), moving from a profit of 358.7 billion won. The company's operating profit for the quarter also fell to 64.8 billion won from 283.8 billion won a year ago, as indicated in a regulatory filing. Sales during the quarter dropped by 24 percent to 645.6 billion won.
According to Yonhap News Agency, OCI Holdings' operating profit for the quarter was 52.7 percent below the average estimate by analysts. The decrease in both operating profit and sales, along with the transition to a net loss in the fourth quarter, signals significant financial hurdles for the company, diverging from its performance in the prior year.