Lotte Chemical swings to loss in Q3

Lotte Chemical-Q3 earnings

Lotte Chemical swings to loss in Q3

SEOUL, Nov. 8 (Yonhap) -- Lotte Chemical Corp. on Tuesday reported its third-quarter net loss of 31.1 billion won (US$22.4 million), swinging from a profit of 312.8 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 423.9 billion won for the July-September period, compared with a profit of 288.3 billion won a year ago. Revenue rose 27.9 percent to 5.68 trillion won.

The loss was 70.7 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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