[Public Notice+] Skin&Skin Reports Q1 Net Profit of 1.3 Billion KRW... "Successful Turnaround to Profit"

[Asia Economy Reporter Yoo Hyun-seok] Skin&Skin announced on the 18th that its individual sales for the first quarter reached 6.4 billion KRW, a 15% increase compared to the same period last year, and that operating profit and net profit turned positive at 350 million KRW and 1.3 billion KRW, respectively.

The company cited the following factors for this growth: ▲ Strengthening manufacturing competitiveness through the introduction of a new ERP system for advanced system management ▲ Restructuring the business structure focusing on profitability, such as improving cost ratios ▲ Realizing sales from newly launched products like hand sanitizers. A Skin&Skin representative said, “Thanks to the overall strong sales in the core cosmetics OEM·ODM business division, we led the improvement in performance,” adding, “We will continue the growth trend in performance throughout this year, starting from the first quarter.”

In particular, sales increased by 115% compared to the same period last year, driven by the sales growth of the company’s major clients. The company also stated, “Anticipating increased demand for personal hygiene products due to the novel coronavirus disease (COVID-19), the expanded sales of newly launched hand sanitizers contributed to the improvement in performance.”

The representative explained, “Despite difficult management conditions due to COVID-19, we achieved profitability in the first quarter,” and added, “We enhanced cosmetics manufacturing competitiveness by expanding facility investments and improving productivity, and secured excellent clients, resulting in increases in both sales and operating profit.”

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