Lotte Wellfood Q2 net income drops 58.7% to 12.4 billion won

Yonhap News

SEOUL, Aug. 9 (Yonhap) — Lotte Wellfood Co. announced on Wednesday that its second-quarter net income was 12.4 billion won (US$9.4 million), a 58.7 percent decrease from the same period last year.

The company said in a regulatory filing that its operating income for the April-June period was 48.6 billion won, a 94.6 percent increase from the year before. Sales were 1.04 trillion won, an 83.3 percent boost.

The operating profit was in line with the average prediction from a survey by Yonhap Infomax, the financial data unit of Yonhap News Agency. There was no available estimate of the net income.

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