Lotte Chilsung Beverage Q1 net income down 18.1 pct to 30.4 bln won

Lotte Chilsung Beverage-Q1 earnings

Lotte Chilsung Beverage Q1 net income down 18.1 pct to 30.4 bln won

SEOUL, May 2 (Yonhap) -- Lotte Chilsung Beverage Co. on Tuesday reported its first-quarter net profit of 30.4 billion won (US$22.7 million), down 18.1 percent from a year earlier.

The company said in a regulatory filing that it posted 59.3 billion won in operating profit for the quarter, compared with 59.7 billion won a year ago. Revenue rose 8.5 percent to 679.8 billion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 36.9 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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