LG Household & Health Care Q1 net up 10.5% on brisk sales
LG headquarters in Yeouido, Seoul (Yonhap)
South Korean household goods and cosmetics maker LG Household & Health Care Ltd. said Thursday its first-quarter net profit rose more than 10 percent on robust sales despite the coronavirus pandemic.
Net income came to 258.8 billion won ($231.9 million) in the January-March period, up 10.5 percent from a year earlier, the company said in a regulatory filing.
Its operating profit expanded 11 percent on-year to 370.6 billion won. Sales climbed 7.4 percent to 2.04 trillion won.
The operating profit was 3.5 percent higher than the average estimate in a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
LG Household & Health Care said the company posted record performances in the first quarter on strong sales from all three business segments -- cosmetics, household and beauty (HDB), and refreshment.
"First-quarter growth was driven mainly by steady gains in domestic and overseas sales of cosmetics," the company said. "In particular, sales of luxury-brand cosmetics were resilient in overseas markets."
Sales of its beauty business rose 8.6 percent on-year to 1.16 trillion won, with the segment's operating income swelling 14.8 percent.
Sales of the HDB sector increased 8.6 percent on-year to 520.7 billion won, resulting in an operating income of 66.2 billion won, up 1.4 percent from a year earlier.
LG headquarters in Yeouido, Seoul (Yonhap)
South Korean household goods and cosmetics maker LG Household & Health Care Ltd. said Thursday its first-quarter net profit rose more than 10 percent on robust sales despite the coronavirus pandemic.
Net income came to 258.8 billion won ($231.9 million) in the January-March period, up 10.5 percent from a year earlier, the company said in a regulatory filing.
Its operating profit expanded 11 percent on-year to 370.6 billion won. Sales climbed 7.4 percent to 2.04 trillion won.
The operating profit was 3.5 percent higher than the average estimate in a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
LG Household & Health Care said the company posted record performances in the first quarter on strong sales from all three business segments -- cosmetics, household and beauty (HDB), and refreshment.
"First-quarter growth was driven mainly by steady gains in domestic and overseas sales of cosmetics," the company said. "In particular, sales of luxury-brand cosmetics were resilient in overseas markets."
Sales of its beauty business rose 8.6 percent on-year to 1.16 trillion won, with the segment's operating income swelling 14.8 percent.
Sales of the HDB se
LG headquarters in Yeouido, Seoul (Yonhap)
South Korean household goods and cosmetics maker LG Household & Health Care Ltd. said Thursday its first-quarter net profit rose more than 10 percent on robust sales despite the coronavirus pandemic.
Net income came to 258.8 billion won ($231.9 million) in the January-March period, up 10.5 percent from a year earlier, the company said in a regulatory filing.
Its operating profit expanded 11 percent on-year to 370.6 billion won. Sales climbed 7.4 percent to 2.04 trillion won.
The operating profit was 3.5 percent higher than the average estimate in a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
LG Household & Health Care said the company posted record performances in the first quarter on strong sales from all three business segments -- cosmetics, household and beauty (HDB), and refreshment.
"First-quarter growth was driven mainly by steady gains in domestic and overseas sales of cosmetics," the company said. "In particular, sales of luxury-brand cosmetics were resilient in overseas markets."
Sales of its beauty business rose 8.6 percent on-year to 1.16 trillion won, with the segment's operating income swelling 14.8 percent.
Sales of the HDB sector increased 8.6 percent on-year to 520.7
LG headquarters in Yeouido, Seoul (Yonhap)
South Korean household goods and cosmetics maker LG Household & Health Care Ltd. said Thursday its first-quarter net profit rose more than 10 percent on robust sales despite the coronavirus pandemic.
Net income came to 258.8 billion won ($231.9 million) in the January-March period, up 10.5 percent from a year earlier, the company said in a regulatory filing.
Its operating profit expanded 11 percent on-year to 370.6 billion won. Sales climbed 7.4 percent to 2.04 trillion won.
The operating profit was 3.5 percent higher than the average estimate in a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
LG Household & Health Care said the company posted record performances in the first quarter on strong sales from all three business segments -- cosmetics, household and beauty (HDB), and refreshment.
"First-quarter growth was driven mainly by steady gains in domestic and overseas sales of cosmetics," the company said. "In particular, sales of luxury-brand cosmetics were resilient in overseas markets."
Sales of its beauty business rose 8.6 percent on-year to 1.16 trillion won, with the segment's operating income swelling 14.8 percent.
Sales of the HDB sector increased 8.6 percent on-year to 520.7 billion won, resulting in an operating income of 66.2 billion won, up 1.4 percent from a year earlier.
The refreshment division posted sales of 357.5 billion won, up 2 percent from a year earlier, with its operating profit rising 6.9 percent to 50.1 billion won. (Yonhap)
billion won, resulting in an operating income o
LG headquarters in Yeouido, Seoul (Yonhap)
South Korean household goods and cosmetics maker LG Household & Health Care Ltd. said Thursday its first-quarter net profit rose more than 10 percent on robust sales despite the coronavirus pandemic.
Net income came to 258.8 billion won ($231.9 million) in the January-March period, up 10.5 percent from a year earlier, the company said in a regulatory filing.
Its operating profit expanded 11 percent on-year to 370.6 billion won. Sales climbed 7.4 percent to 2.04 trillion won.
The operating profit was 3.5 percent higher than the average estimate in a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
LG Household & Health Care said the company posted record performances in the first quarter on strong sales from all three business segments -- cosmetics, household and beauty (HDB), and refreshment.
"First-quarter growth was driven mainly by steady gains in domestic and overseas sales of cosmetics," the company said. "In particular, sales of luxury-brand cosmetics were resilient in overseas markets."
Sales of its beauty business rose 8.6 percent on-year to 1.16 trillion won, with the segment's operating income swelling 14.8 percent.
Sales of the HDB sector increased 8.6 percent on-year to 520.7 billion won, resulting in an operating income of 66.2 billion won, up 1.4 percent from a year earlier.
The refreshment division posted sales of 357.5 billion won, up 2 percent from a year earlier, with its operating profit rising 6.9 percent to 50.1 billion won. (Yonhap)
f 66.2 billion won, up 1.4 percent from a year earlier.
The refreshment division posted sales of 357.5 billion won, up 2 percent from a year earlier, with its operating profit rising 6.9 percent to 50.1 billion won. (Yonhap)
ctor increased 8.6 percent on-year to 520.7 billion won, resulting in an operating income of 66.2 billion won, up 1.4 percent from a year earlier.
The refreshment division posted sales of 357.5 billion won, up 2 percent from a year earlier, with its operating profit rising 6.9 percent to 50.1 billion won. (Yonhap)
The refreshment division posted sales of 357.5 billion won, up 2 percent from a year earlier, with its operating profit rising 6.9 percent to 50.1 billion won. (Yonhap)
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