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Lotte Chemical Q2 profit climbs YOY

Lotte Chemical Corp. said its normalized net income for the second quarter was 12,239.52 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 10,874.45 won per share.

EPS climbed year over year from 11,942.84 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 412.37 billion won, an increase from 402.43 billion won in the year-earlier period.

The normalized profit margin dropped to 12.0% from 12.7% in the year-earlier period.

Total revenue rose 8.3% year over year to 3.441 trillion won from 3.179 trillion won, and total operating expenses rose 8.2% year over year to 2.747 trillion won from 2.539 trillion won.

Reported net income totaled 459.74 billion won, or 13,645.38 won per share, compared with 460.24 billion won, or 13,658.26 won per share, in the prior-year period.

As of Aug. 16, US$1 was equivalent to 1,094.67 South Korean won.