[Market Focus] Lotte Himart Surges on Strong Q2 Results...Hits Record High

Lotte Himart is showing strong performance in the second quarter of this year. The company hit a new 52-week high during intraday trading.

As of 9:19 a.m. on July 28, Lotte Himart was trading at 8,820 won on the Korea Exchange, up 210 won (2.44%) from the previous session. During the session, the stock climbed as high as 9,570 won, setting a new 52-week high.

The strong second-quarter results announced after the market opened are seen as the main driver behind the stock's rise. Lotte Himart disclosed that its standalone operating profit for the second quarter was 10.491 billion won, a 277.2% increase compared to the same period last year. Compared to the previous quarter, the company returned to profitability. During the same period, revenue was 594.203 billion won, up 0.8% year-on-year, and net profit was provisionally tallied at 11.117 billion won, a 667.2% increase from the same period last year.