Lotte Chilsung Beverage Co. on Thursday reported its first-quarter net income of 25.4 billion won (US$18.5 million), down 16.5 percent from a year earlier.
The company said in a regulatory filing that it posted 42.4 billion won in operating profit for the quarter, compared with 59.3 billion won a year ago. Revenue rose 37.8 percent to 936.9 billion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 23.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency
