April 27, 2024

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[THE INVESTOR] Korean cosmetics giant Amorepacific said on Oct. 29 that its third-quarter net profit fell 39.8 percent from a year earlier on increased one-off costs.

For the three months ended Sept. 30, net profit reached 48.1 billion won (US$42.20 million), down from 79.8 billion won a year earlier, the company said in a statement. 

Amorepacific said increased labor and marketing costs hurt its bottom line.

Sales rose 5.7 percent on-year to 1.27 trillion won over the cited period, and operating profit declined 24.3 percent to 76.5 billion won, the company said.
 
By Song Seung-hyun and newswires (ssh@heraldcorp.com)