Seoul: SK Chemicals Co. on Friday reported its fourth-quarter net loss of 49.9 billion won (US$34 million), turning from a profit of 9.9 billion won a year earlier. The company revealed this financial downturn in its latest quarterly report.

According to Yonhap News Agency, the company said in a regulatory filing that it continued to post an operating loss of 39.1 billion won for the October-December period. This marks a further decline when compared to the operating loss of 28.9 billion won recorded during the same period last year. Despite these losses, the company experienced a significant revenue increase of 20.6 percent, achieving 621.8 billion won in sales.

The shift to a net loss and continued operating losses highlight the challenges SK Chemicals faced during the final quarter. However, the revenue growth indicates areas of positive movement within the company, suggesting potential areas for future recovery.