Published : Sept. 22, 2016 - 13:19
[THE INVESTOR] The operating profit of Kolmar Korea, South Korea’s original development manufacturing cosmetics manufacturer, is expected to surge over 30 percent in the third quarter, bolstered by increasing number of new clients, a local securities firm said on Sept. 22.
The company is likely to post 20.6 billion won (US$18.64 million) in operating profit in the third quarter, up 31.1 percent from a year earlier, said Lee Sun-hwa, an analyst at Heungkuk Securities.
“The Third quarter is the off-season for domestic cosmetics sales but Kolmar’s sales can grow as new channels have increased,” she said.
Recently, local retailers are aggressively entering into the cosmetics market by launching their own private brands and Kolmar Korea is benefiting from the trend, she added.
The firm is a supplier for E-mart’s No Brand line of skincare products and Lotte Department Store’s private brand el&cos.
By Park Han-na (hnpark@heraldcorp.com)