POSCO Chemical swings to loss in Q4

A worker is seen in front of production line for anodes in POSCO Chemical's factory in Sejong. Courtesy of POSCO Chemical

POSCO Chemical on Friday reported its fourth-quarter net loss of 26.1 billion won ($21.2 million), shifting from a profit of 19.2 billion won a year earlier.

The company said in a regulatory filing that operating profit for the October-December period fell 83.8 percent on-year to 3.3 billion won. Revenue increased 45.3 percent to 780.8 billion won.

The operating profit was 91.9 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. (Yonhap)