[Edaily Reporter Kim Ji-woo ] LOTTE WELLFOOD(280360)saw its revenue growth slow in the third quarter of this year, but improved profitability by increasing operating profit by approximately 30% year-over-year.

LOTTE WELLFOOD announced on the 11th that its consolidated operating profit for the third quarter of this year was 89.9 billion won, a 29.7% increase compared to the same period last year.
Revenue for the same period rose 1.5% to 1.1739 trillion won. Net income was 51.9 billion won, up 4.0% year-over-year.

Profitability improved as the growth rate of operating profit significantly outpaced that of revenue. The third-quarter operating profit margin was approximately 7.7%, up about 1.7 percentage points from the same period last year (6.0%).

On a standalone basis, revenue declined, but operating profit increased. Third-quarter standalone revenue was 918.2 billion won, down 1.7% year-over-year. In contrast, operating profit rose 10.3% to 69.4 billion won.

Year-to-date performance also improved. Cumulative consolidated revenue for the first three quarters totaled 3.3569 trillion won, a 5.0% increase compared to the same period last year. Cumulative operating profit for the same period rose 58.7% to 190.4 billion won. Cumulative net income increased 18.5% to 104.7 billion won.

LOTTE WELLFOOD is scheduled to hold an investor briefing for institutional investors and analysts at 2:00 p.m. today to discuss its third-quarter financial results and future business outlook.