April 16, 2024

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[THE INVESTOR] LG Household & Health Care said on Jan. 24 its net profit jumped 12 percent on-year fueled by the popularity of its luxury cosmetics brands.

Its net profit came to 692 billion won (US$613 million) last year, compared with 618 billion won reported in 2017, the company said in a regulatory filing.

The company’s sales came to 6.65 trillion won last year, up 10.5 percent on-year, with an operating profit of 1.03 trillion won, also up 11.7 percent on-year, it said.

“Luxury cosmetic brands led the growth of our cosmetics business in both the domestic and overseas markets,“ a LG H&H official said.

Its high-end skin care lineup -- The History of Whoo -- has been leading cosmetics growth by posting over 2 trillion won in sales last year, according to the company.

For this year, LG H&H aims for 7.07 trillion won in sales and 1.09 trillion won in operating income.

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