Amorepacific Q4 net profit up 55.5% to $28.7 mil.

Amorepacific store is seen in this photo, Gyeonggi Province, Oct. 27, 2020. Courtesy of Amorepacific

Amorepacific on Tuesday reported its fourth-quarter net income of 38.2 billion won ($28.7 million), up 55.5 percent from a year earlier.

Operating profit for the October-December period 2023 was 20.7 billion won, down 63.7 percent from a year ago, the company said in a regulatory filing. Revenue fell 14.9 percent to 926 billion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 15.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)