Lotte Chemical posts net loss in Q2


SEOUL, Aug. 8 (Yonhap) — Lotte Chemical Corp. announced its second-quarter financial results on Tuesday, revealing a net loss of 140.3 billion won (US$106.6 million), reversing a profit of 36.2 billion won from the same period last year.

The company reported an operating loss of 77 billion won for the April-June period, a decrease from the 59.5 billion won loss of the previous year. Revenue fell by 5.9 percent to 5 trillion won.

The loss was 348.8 percent higher than the average forecasted by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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