OCI Holdings shifts to loss in Q4

SEOUL, OCI Holdings Co. on Wednesday reported its fourth-quarter net loss of 17.8 billion won (US$13.4 million), shifting from a profit of 358.7 billion won a year earlier. The company said in a regulatory filing that it posted 64.8 billion won in operating profit for the quarter, compared with 283.8 billion won a year ago. Sales fell 24 percent to 645.6 billion won. The operating profit was 52.7 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. Source: Yonhap News Agency