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January 28, 2011

SOUTH KOREA: Hypermarket earnings boost Lotte FY profits

South Korean retailer Lotte Shopping has booked an increase in full-year profits, driven by "strong" earnings from its department stores and hypermarkets.

South Korean retailer Lotte Shopping has booked an increase in full-year profits, driven by “strong” earnings from its department stores and hypermarkets.

Profits for the 2010 fiscal year climbed 41.1% to KRW1.01bn (US$905m), while operating profit increased 30.8% to KRW1.15bn.

Gross sales amounted to KRW14.1tr, a 17.3% increase on 2009.

In the fourth quarter, profits rose 110.5% to KRW376m, while operating profits increased 22% to KRW315m. Sales climbed 18.1% to KRW4tr.

Click here to view the full earnings release.

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