LG Household & Health Care delivers largest Q3 revenue of W2.7tr

Consumer goods company LG Household & Health Care posted 2.7 trillion won ($2.38 billion) in quarterly revenue, its best-ever earnings for the third-quarter period.

While its revenue was up 5.4 percent compared to the same time last year, the company also posted a net profit of 231.7 billion won, up 6.7 percent from a year ago and an operating profit of 327.6 billion won, up 5.1 percent, according to its regulatory filing Thursday.

Despite uncertainties stemming from the COVID-19 pandemic, LG Household & Health Care managed to post an increase in profits thanks to strong sales of beauty products including popular hair care brand Dr. Groot, which racked up over 1.4 trillion won in revenue.

Though distribution channels for cosmetics took a hit as a result of the pandemic, the company explained that a quick recovery of demand for high-end brands such as Whoo and CNP helped its revenue bounce back from earlier this year.

By Yim Hyun-su (hyunsu@heraldcorp.com)