April 25, 2024

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[THE INVESTOR] LG Household & Health Care said on Oct. 24 it racked up a solid profit in the third quarter of this year on the back of its high-end cosmetic brands.

Its operating profit came to 253 billion won (US$224 million) in the July-September period, up 3.5 percent from 244 billion won tallied the previous year, the company said in a regulatory filing.

Sales reached 1.6 trillion won, also up 2.9 percent from a year earlier. LG H&H said the figures are the highest-ever for any third-quarter earnings.

“While many companies faced difficulties from the beginning of the year due to the THAAD deployment and a sharp decline of inbound Chinese travelers, differentiated strategy with focus on luxury cosmetics and a balanced business portfolio resulted in record-high results,” the company said in a press release.

LG H&H’s net income, meanwhile, stood at 188 billion won during the period, down 2.4 percent from the same months last year.

By Alex lee and newswires (alexlee@heraldcorp.com)