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Lotte Shopping profit misses consensus by 78.1% in Q3

Lotte Shopping Co. Ltd. said its third-quarter normalized net income amounted to 1,451.98 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 6,628.69 won per share.

EPS decreased 63.5% year over year from 3,976.07 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 42.91 billion won, a decrease of 65.3% from 123.66 billion won in the prior-year period.

The normalized profit margin declined to 0.6% from 1.8% in the year-earlier period.

Total revenue increased 7.2% year over year to 7.484 trillion won from 6.983 trillion won, and total operating expenses rose 8.3% from the prior-year period to 7.045 trillion won from 6.502 trillion won.

Reported net income came to a loss of 4.76 billion won, or a loss of 161.00 won per share, compared to income of 251.98 billion won, or 8,102.00 won per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.