L and F Co. on Tuesday reported its second-quarter net loss of 74.4 billion won (US$54.1 million), shifting from a profit of 49.4 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 84.2 billion won for the April-June period, compared with a profit of 3 billion won a year ago. Sales fell 59.4 percent to 554.8 billion won.

The operating loss was 4.7 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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Source: Yonhap News Agency