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Lotte Chilsung Beverage Q4 net profit up 509% to $26.5 mil.

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Alcohol products of Lotte Chilsung Beverage are seen in this photo, in Seoul, Dec. 27, 2023. Yonhap

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)