LG Household & Health Care Reports Operating Profit of KRW 1.1764 Trillion... Highest Since Establishment

[Asia Economy Reporter Yujin Cho] LG Household & Health Care (CEO Cha Seok-yong) announced on the 29th that its consolidated operating profit for last year was tentatively estimated at 1.1764 trillion KRW, a 13.2% increase compared to the previous year.

During the same period, sales reached 7.6854 trillion KRW and net profit was 788.2 billion KRW, each increasing by 13.9% compared to the previous year, marking the highest performance since the company's founding.

The company stated, "Despite overlapping adverse factors such as domestic economic recession, the US-China trade dispute, and uncertainties surrounding China's e-commerce law, sales and operating profit have shown a steady growth rate of over 10% each quarter," adding, "We have maintained growth for 15 consecutive years on an annual basis."

High growth in overseas business is cited as the reason for the strong performance. Thanks to favorable business conditions in the Chinese and Japanese markets, overseas sales grew by 48% last year. Supported by strong market demand for luxury cosmetics, the competitiveness of brands such as Whoo, Su:m, and O Hui has been solidified.

The company added, "Building on a solid business foundation in Korea and Asia, we are visualizing expansion into the global market," and "Expectations are also high for the expansion of Avon’s North American business."

LG Household & Health Care achieved sales of 2.0133 trillion KRW in the fourth quarter alone, an 18.5% increase compared to the same period last year, surpassing 2 trillion KRW in quarterly sales for the first time.

Operating profit rose 14.3% year-on-year to 241 billion KRW, recording the highest-ever quarterly results in both sales and operating profit.

This content was produced with the assistance of AI translation services.