According to Yonhap News Agency’ article published on October 27, 2022, Lotte Fine Chemical Co. on Thursday reported its third-quarter net income of 22.5 billion won (US$15.9 million), down 89 percent from a year earlier.
The company said in a regulatory filing that it posted 120.4 billion won in operating profit for the quarter, compared with 70.2 billion won a year ago. Revenue rose 27.7 percent to 628.5 billion won.
The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 61.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
