(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Lotte Rental reported a 33.3% decrease in operating profit for the first quarter on a consolidated basis, amounting to 569 billion won, as announced on the 8th.

The revenue also decreased by 8.9% to 6.569 trillion won, and the net profit dropped by 59.5% to 162 billion won.

Lotte Rental explained that the first-quarter performance decline was a temporary phenomenon resulting from adjustments in the business portfolio towards maximizing rental core business profits, following the announcement of new medium- to long-term growth strategies in June last year. They further elaborated that the decrease in operating profit was due to pre-investment for business expansion, including the development of next-generation systems and investments in information technology (IT), as well as costs related to the commercialization of used car rental products.

 

 

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