LG Household & Health Care Q2 Operating Profit Rises 0.6%
[Asia Economy Reporter Yujin Cho] LG Household & Health Care announced on the 23rd through its Q2 earnings disclosure that its sales amounted to 1.7832 trillion KRW, a 2.7% decrease compared to the same period last year, while operating profit was tentatively recorded at 303.3 billion KRW, a 0.6% increase.
Due to the impact of the novel coronavirus disease (COVID-19), the influx of tourists disappeared, and the duty-free sales were hit by intense price discount competition among global cosmetics brands to clear inventory.
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As a result, growth in duty-free sales became difficult, leading to a decrease in sales, but operating profit slightly increased, achieving the highest-ever Q2 operating profit. LG Household & Health Care has shown an increase in operating profit for 61 consecutive quarters since Q1 2005.
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