Amorepacific glows abroad, sending profit soaring sixfold
In a regulatory filing on Friday, the company posted an operating profit of 80.1 billion won ($57.6 million) for the April to June period, up 555.5 percent from 12.2 billion won a year earlier. Consolidated revenue rose 8.9 percent on-year to 1.09 trillion won.
The group's flagship subsidiary, Amorepacific, led the gains with steady growth in Korea's beauty sector and continued momentum in overseas markets, reporting an 11.1 percent rise in revenue and more than a 17-fold increase in operating profit from a year earlier.
Operating profit from its overseas operations soared 611 percent to 36 billion won, with domestic profit also rising 164 percent to 40.2 billion won.
In regional breakdowns, revenue in the Greater China region surged 23 percent, driven by business model restructuring, according to the company. In the Americas, sales rose 10 percent, while sales in Europe, the Middle East and Africa climbed 18 percent.
Among key subsidiaries, Etude saw a 196 percent rise in operating profit to 2.8 billion won, while Innisfree posted an 81 percent gain in operating profit despite a 9 percent decline in revenue to 53.2 billion won.
'We are actively pursuing a global rebalancing strategy,' an Amorepacific Holdings official said. 'This includes strengthening distribution partnerships in core overseas markets and exploring diverse business models."
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