Lotte Shopping turns to red in Q3

Lotte Shopping-Q3 earnings

Lotte Shopping turns to red in Q3

SEOUL, Nov. 4 (Yonhap) -- Lotte Shopping Co. on Friday reported its third-quarter net loss of 95.1 billion won (US$67 million), shifting from a profit of 305.8 billion won a year earlier.

The company said in a regulatory filing that operating profit for the July-September period rose 418.6 percent on-year to 150.1 billion won. Sales increased 0.2 percent to 4.01 trillion won.

The operating profit was 20.9 percent higher 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.

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