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[Alpha Biz=(Chicago) Reporter Kim Jisun] AmorePacific's sales and operating profit fell for the second consecutive year due to sluggishness in the Chinese market and duty-free channels, the report showed.
AmorePacific announced on the 25th that it recorded sales of 3.6739 trillion won and operating profit of 108.1 billion won last year. Sales fell 11.1% year-on-year (2022). Operating profit fell 49.5 percent over the same period.
AmorePacific explained that its operating profit declined due to falling sales of its duty-free channels and Chinese businesses in Korea. Sales and operating profit continued to decline year-on-year for the second consecutive year since 2022. LG Household & Health Care, which also has a high proportion of sales in China and duty-free shops, saw its sales and operating profit fall 5.3 percent and 31.5 percent on-year last year.
LF, a fashion company, announced that it recorded sales of 1.9 trillion won and operating profit of 62.2 billion won last year. Sales and operating profit fell 3.4% and 66.3%, respectively, year-on-year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
