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S.Korea's largest cosmetics maker's Q1 operating profit up 30.7 percent

Xinhua, May 2, 2016 Adjust font size:

South Korea's largest cosmetics maker AmorePacific Group said Monday that its operating profit jumped 30.7 percent in the first quarter thanks to sales growth both at home and abroad.

Consolidated operating profit reached 419.1 billion won (368 million U.S. dollars) in the January-March period, up 30.7 percent from a year earlier.

Consolidated revenue increased 21.8 percent over a year earlier to 1.76 trillion won, and net income jumped 33.1 percent to 325.3 billion won.

The group's flagship unit AmorePacific posted an operating profit of 337.8 billion won on revenue of 1.49 trillion won in the first quarter. It was up more than 20 percent compared with a year ago.

The unit's local business revenue expanded 16 percent to 1.09 trillion won, with overseas revenue posting 408 billion won, up 46 percent on a year-to-year basis.

Cosmetics sales in Asia and North America jumped 50 percent and 24 percent respectively, but those in Europe reduced 6.4 percent on consumption slowdown and market slump.

Innisfree, one of the group's affiliates, saw its revenue increase 31 percent to 186.6 billion won with an operating profit of 51.9 billion won, up 47 percent from a year ago.

Etude's revenue gained 14 percent to 81.4 billion won, and its operating profit surged 255 percent to 12.3 billion won. Endit