Lotte Fine Chemical shifts to profits in Q2

Lotte Fine Chemical Co. on Tuesday reported its second-quarter net income of 43.3 billion won (US$31.3 million), swinging from a loss of 100 million won a year earlier. The company said in a regulatory filing that operating profit for the April-June period fell 75.3 percent on-year to 17.1 billion won. Revenue decreased 2.1 percent to 422.1 billion won. The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 50 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (END) Source: Yonhap News Agency