Lotte Confectionery has reported a slide in first-half profits after a weak second quarter.
For the six months to the end of June, the South Korea-based confectionery maker reported net profit down by 14% on the same period of last year, to KRW59.9bn (US$52.8m). Operating profit also fell, by 22.4% to KRW71.5bn, the firm said today (24 August).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
However, the group saw net sales increase by 2.5% to KRW756.9bn. The privately-held group released no commentary on the numbers.
In the second quarter, net profit plunged by 40% to KRW26bn, while operating profit sank by 34% to KRW38.6bn. Net sales crept up by 0.1% to KRW394.6bn.
