ID :
182897
Wed, 05/18/2011 - 12:58
Auther :
Shortlink :
https://oananews.org//node/182897
The shortlink copeid
Lotte Shopping Q1 net rises 12.8 pct
SEOUL (Yonhap) - Lotte Shopping Co., the operator of South Korea's biggest department store chain, said Wednesday that its first-quarter profit increased 12.8 percent from a year earlier on increased sales.
Net income reached 355 billion won (US$326 million) in the January-March period, compared with a profit of 314 billion won a year earlier, the company said in a regulatory filing.
Sales surged 29 percent to 5.71 trillion won over the cited period, and operating income soared 24 percent to 469 billion won, it said.
Sales at the department store chains and retail outlets increased sharply. Lotte Shopping also said gains from equity ties with affiliates helped boost earnings.
Shares of Lotte Shopping closed at 490,500 won on the Seoul bourse, down 2.1 percent from the previous session's close.
Net income reached 355 billion won (US$326 million) in the January-March period, compared with a profit of 314 billion won a year earlier, the company said in a regulatory filing.
Sales surged 29 percent to 5.71 trillion won over the cited period, and operating income soared 24 percent to 469 billion won, it said.
Sales at the department store chains and retail outlets increased sharply. Lotte Shopping also said gains from equity ties with affiliates helped boost earnings.
Shares of Lotte Shopping closed at 490,500 won on the Seoul bourse, down 2.1 percent from the previous session's close.