Lotte Fine Chemical-Q1 earnings

Lotte Fine Chemical-Q1 earnings

Lotte Fine Chemical Q1 net profit up 526 pct to 185.3 bln won

SEOUL, April 28 (Yonhap) -- Lotte Fine Chemical Co. on Friday reported its first-quarter net income of 185.3 billion won (US$138.4 million), up 526 percent from a year earlier.

Operating income for the January-March period was 42 billion won, down 61.9 percent from a year ago, the company said in a regulatory filing. Revenue fell 19.5 percent to 525 billion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 155.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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