Amorepacific’s Operating Profit Surges 103.8% Amid Strong Sales Growth
Amorepacific Corporation reported a 103.8% increase in operating profit, reaching 220.5 billion won (approx. US$165 million) for the year. The post Amorepacific’s Operating Profit Surges 103.8% Amid Strong Sales Growth appeared first on Global Cosmetics News.
THE WHAT? Amorepacific Corporation reported a 103.8% increase in operating profit, reaching 220.5 billion won (approx. US$165 million) for the year.
THE DETAILS
- Q4 2023 performance was particularly strong, with operating profit jumping 279.6% to 78.5 billion won (approx. US$58 million).
- Q4 sales rose 17.9% to 1.09 trillion won (approx. US$820 million), although a net loss of 46.2 billion won (approx. US$34 million) was recorded for the quarter.
- Amorepacific Group announced a stock buyback of 3 million shares (3.13% of issued stock), valued at approximately 68.85 billion won (approx. US$52 million).
- The company will rebrand its holding entity to Amorepacific Holdings, pending shareholder approval in March, to better reflect its role as the parent company.
THE WHY? Amorepacific’s profit surge reflects a rebound in demand for premium beauty products and successful operational efficiencies.
The post Amorepacific’s Operating Profit Surges 103.8% Amid Strong Sales Growth appeared first on Global Cosmetics News.
