Amorepacific's Q3 net jumps 83.6% on brand awareness, efficiency

Amorepacific Corp., South Korea's leading cosmetics maker, said Thursday its third-quarter net profit jumped 83.6 percent from a year earlier on improved brand awareness and operational efficiency.

For the three months ended Sept. 30, net profit rose to 68.2 billion won (US$47.1 million) from 37.1 billion won a year earlier, the company said in a regulatory filing.

"Strengthened global brand recognition of products, including Sulwhasoo, Laneige and Aestura, along with efficient operations, contributed to solid earnings in the third quarter," a company spokesperson said.

Operating profit increased 41 percent to 91.9 billion won in the July–September period from 65.2 billion won a year ago, while sales grew 4.1 percent to 1.01 trillion won from 977.2 billion won.

From January to September, however, net income plunged 65.3 percent to 224.8 billion won from 647.8 billion won a year earlier.

Equity losses from skincare brand COSRX continued to weigh on the nine-month results. Amorepacific acquired COSRX in 2023, and its earnings have been reflected in the parent company's consolidated results since May last year.

In the first nine months, operating profit soared 99.5 percent on-year to 283.2 billion won, while sales climbed 10.6 percent to 3.08 trillion won.