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Lotte Shopping profit misses consensus by 41.0% in Q1

Lotte Shopping Co. Ltd. said its normalized net income for the first quarter came to 3,467.47 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 5,879.07 won per share.

EPS decreased 26.2% year over year from 4,699.39 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 103.27 billion won, a decline of 29.2% from 145.96 billion won in the prior-year period.

The normalized profit margin fell to 1.6% from 2.2% in the year-earlier period.

Total revenue climbed on an annual basis to 6.935 trillion won from 6.786 trillion won, and total operating expenses rose year over year to 6.668 trillion won from 6.446 trillion won.

Reported net income decreased 26.3% from the prior-year period to 103.00 billion won, or 3,458.34 won per share, from 139.74 billion won, or 4,282.66 won per share.

As of June 26, US$1 was equivalent to 1,122.58 South Korean won.