LG Household & Health Care Achieves Record First Quarter Performance with Operating Profit of 370.6 Billion KRW

LG Household & Health Care Whoo Bichup Essence. (Photo by LG Household & Health Care)

[Asia Economy Reporter Seungjin Lee] LG Household & Health Care achieved its highest-ever performance in the first quarter of 2021.

LG Household & Health Care announced on the 22nd that it recorded sales of 2.0367 trillion KRW and an operating profit of 370.6 billion KRW in the first quarter of 2021. This represents growth of 7.4% and 11% respectively compared to the same period last year. Net profit for the period increased by 10.5% to 258.8 billion KRW compared to last year.

Despite the challenging business environment in domestic and overseas markets due to COVID-19, all three business sectors?Beauty (cosmetics), HDB (household goods), and Refreshment (beverages)?achieved growth in sales and profits, realizing the highest-ever first quarter performance.

Overseas sales continued steady growth based on strong customer preference for Chinese luxury brands. In particular, beauty sales returned to growth for the first time since the outbreak of COVID-19.

HDB sales maintained growth despite a significant decline in demand for hygiene products such as hand sanitizers and masks, which surged last year, by expanding the share of premium brands.

The Refreshment business achieved solid results through stable growth of major brands with high recognition such as Coca-Cola and Monster Energy.

The combined sales of all cosmetics, including beauty and daily beauty, recorded 1.4908 trillion KRW in the first quarter, with an operating profit of 306.1 billion KRW, growing 10.1% and 14.1% respectively compared to the same period last year.

Sales have grown for 61 consecutive quarters since the third quarter of 2005 compared to the same period last year, and operating profit has increased for 64 consecutive quarters since the first quarter of 2005.

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