South Korean retailer Lotte Shopping saw earnings jump by over a quarter in the third quarter of 2010 after operating profit from its hypermarket business more than doubled.
Lotte Shopping posted net profit of KRW183bn (US$162.9m) for the three months to the end of September, up 25.7% on the year. Gross sales climbed 23.1% to KRW3.5trn.
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Operating profit from Lotte’s hypermarket chain more than doubled from KRW41bn a year ago to KRW95bn in this year’s third quarter. Gross sales were up 35.2% at KRW1.53trn.
Revenue in each of Lotte’s overseas markets – China, Indonesia and Vietnam – rose during the quarter.
Click here for more details on Lotte Shopping’s third-quarter numbers.
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