April 24, 2024

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[THE INVESTOR] LG Household & Health Care said on Jan. 23 its net profit increased 6.8 percent in 2017 from a year earlier on steady demand for its luxury cosmetics products from domestic and overseas markets.

Net profit reached 618.5 billion won (US$577.40 million) in 2017, compared with 579.2 billion won a year earlier, the company said in a regulatory filing.
Operating income rose 5.6 percent to reach a record high 930.3 billion won and sales also edged up 2.9 percent to 6.27 trillion won over the cited period, it said.

LG H&H said its business division for cosmetics managed to jack up profits despite worries over the diplomatic row between Seoul and Beijing over a US anti-missile system here.

“Despite complications caused by the THAAD deployment, (our beauty division) Beautiful achieved strong results from differentiated strategy with luxury cosmetics focus and solid growth from overseas, including China, demonstrating resilience despite external factors,” the company said.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)