AmorePacific Q2 net jumps 33 percent on strong overseas market

South Korea's top cosmetics maker AmorePacific Co. said Friday its second-quarter earnings jumped 33.1 percent from a year ago, led by brisk performance in the overseas market.

Net profit came to 246.7 billion won ($220.1 million) in the April-June period on a consolidated basis, compared with a profit of 185.4 billion won a year earlier, the company said in a regulatory filing.

Operating income rose 27.1 percent on-year to 309.7 billion won during the cited period, while sales gained 21.7 percent to 1.72 trillion won, it said.

The company said global sales showed faster growth as its products enjoyed popularity in China, its largest export destination.

Sales from the global and domestic markets jumped 46 percent and 13 percent, respectively, in the quarter that ended in June.

Revenue from the Asian market soared 49 percent, as the luxury line Sulhwasoo continued to post solid growth by expanding distribution channels in department stores and online malls.

The North American market logged a 26-percent surge on the back of expanded distribution channels, with luxury brand Sulhwasoo and casual lineup Laneige posting brisk sales, the company said.

Among brands, Innisfree, a nature-themed budget line, marked the highest growth at 46 percent, while Etude House, a color makeup line, recovered from last year's slump to advance 31 percent during the period, it said.

Shares of AmorePacific dropped 3 percent to 388,000 won on the Seoul bourse, underperforming the broader market's 0.24 percent decline. (Yonhap)