Seoul: Lotte Fine Chemical Co. on Wednesday reported its fourth-quarter net profit of 28.4 billion won (US$19.6 million), swinging from a loss of 18.8 billion won a year earlier. The financial turnaround marks a significant development for the company, which has been focusing on enhancing its operational efficiency.

According to Yonhap News Agency, the company stated in a regulatory filing that it posted 19.3 billion won in operating profit for the quarter, compared with 12.2 billion won a year ago. This improvement in operating profit reflects the company's successful efforts in streamlining operations and optimizing resource allocation.

Revenue for the quarter rose 2.4 percent to 439.1 billion won. This increase in revenue suggests a steady demand for the company's products and services, contributing to its financial recovery. The company continues to focus on strategic initiatives to sustain its growth trajectory in the coming quarters.