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SEOUL, Aug. 7 (Yonhap) -- Lotte Shopping Co., an affiliate of South Korean retail conglomerate Lotte Group, said Friday it swung to a net profit in the second quarter, driven by strong department store sales.

The company said its net income reached 14.6 billion won (US$10.3 million) in the April-June period, turning around from a net loss of 10.3 billion won a year earlier, according to a regulatory filing.

Operating profit jumped 121.2 percent on-year to 89.9 billion won in the second quarter, while revenue increased 4 percent to 3.48 trillion won.

The turnaround was led by strong department store performance on the back of increased spending by foreign travelers.

Sales in the department store division rose 9.2 percent on-year to 891.2 billion won over the three-month period, while its operating profit surged 84 percent to 119.7 billion won.

The company's overseas operations also contributed to the improved performance.

Lotte Shopping operates three department stores and 15 hypermarkets in Vietnam, along with one department store and 48 hypermarkets in Indonesia.

Sales from overseas department store operations rose 20.6 percent on-year to 35.6 billion won, while operating profit surged 309.7 percent to 7.4 billion won during the period.

Revenue from the hypermarket business gained 2.6 percent to 1.32 trillion won, while the division posted an operating loss of 37.8 billion won.

ejkim@yna.co.kr

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