AmorePacific posts record Q2 earnings on upbeat overseas sales

[THE INVESTOR] AmorePacific Group, the nation’s largest beauty company, on July 29 posted its best second-quarter earnings, largely driven by its soaring overseas sales especially in China.

The company said April-June operating profit surged 27.1 percent to 309.7 billion won. Revenue stood at 1.79 trillion won, up 27.1 percent on-year. 

Domestic sales at about 1.38 trillion won still made up the larger portion of the total revenue. But overseas sales are growing faster, surging 46 percent to 417.3 billion won compared to a year ago.

The company saw the biggest 50 percent growth in sales in Asia, including its largest market China. European sales also turned to profit, posting 11 percent growth in sales.

More lucrative, high-end brands such as Sulwhasoo and Hera drove up the sales overall, the company said.

By Lee Ji-yoon (jylee@heraldcorp.com)