Lotte Shopping Q2 net profit up 156.3 pct to 116.6 bln won

Lotte Shopping Co. on Thursday reported its second-quarter net profit of 116.6 billion won (US$88.6 million), up 156.3 percent from a year earlier.

The company said in a regulatory filing that operating profit for the April-June period fell 30.8 percent on-year to 51.5 billion won. Sales decreased 7.2 percent to 3.62 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 13.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency