Lotte Chilsung Beverage Q4 net profit up 509% to $26.5 mil.
Alcohol products of Lotte Chilsung Beverage are seen in this photo, in Seoul, Dec. 27, 2023. Yonhap
Lotte Chilsung Beverage on Monday reported its fourth-quarter net profit of 35.3 billion won ($26.5 million), up 509 percent from a year earlier.
The company said in a regulatory filing that operating income for the October-December 2023 period fell 67.3 percent on-year to 8 billion won. Sales increased 37.3 percent to 918.4 billion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 7.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)