AmorePacific reports robust profit growth in first quarterAmorePacific said its first-quarter net profit rose 28.1 percent year-on-year, thanks to strong sales growth in Asian markets, especially China.
Korea’s No.1 cosmetic maker reported 190.8 billion won ($175 million) in net profit on sales of 1.1 trillion won, up 26.7 percent from the previous year.
Its operating profit was up 50 percent year-on-year to 213.9 billion won.
AmorePacific’s sales in emerging Asian markets were 241.2 billion won, up 50.6 percent from a year ago. Sales in the United States and developed countries in Europe decreased by 7.7 percent to 38.9 billion won.