Amorepacific Q3 net falls 14.3 percent on non-operating costs

Amorepacific Corp., South Korea's top cosmetics firm, disclosed on Thursday that its third-quarter net profit declined by 14.3% year-on-year, primarily due to non-operating expenses. The profit for the three months ended September 30 stood at 58.5 billion won ($43.8 million), down from 68.2 billion won in the corresponding period a year ago. The company did not specify the nature of the non-operating costs.

Despite the decline in net profit, the company's operating profit surged 25.4% to 115.2 billion won, up from 91.89 billion won in the same period last year. Sales also grew 11.1% to 1.12 trillion won, compared to 1.02 trillion won in the previous year. The company credited its improved financials to robust performance in key overseas markets, such as the United States, Japan, and India.

Demand for Amorepacific's flagship brands, including Aestura and Innisfree, remained high in these markets, benefiting from the enduring global popularity of K-beauty products. In Korea, the company reported strong sales of major brands, such as Hera and Sulwhasoo, along with double-digit growth in e-commerce, multi-brand retailers like CJ Olive Young, and duty-free channels.