[Featured Stock] Tony Moly Surges Over 9% on 2Q Profit Turnaround Outlook

The stock price of cosmetics company Tony Moly is showing strong performance during the morning trading session on the 23rd. It appears that the stock price is being driven by securities firms' forecasts of Tony Moly turning a profit in the second quarter.

As of 9:40 AM today, Tony Moly is trading at 6,070 KRW on the KOSPI market, up 9.57% compared to the previous trading day.

Hana Securities, which published a report on Tony Moly today, projected that Tony Moly's sales in the second quarter of this year will increase by 5% year-on-year to 36.1 billion KRW, and operating profit will turn positive to record 2.7 billion KRW.

Researcher Eunjeong Park of Hana Securities analyzed, "Due to increased demand in tourist commercial districts, road shops and duty-free sales are expected to grow compared to the same period last year," adding, "In February, a mid- to long-term supply contract was signed with Itochu Corporation in Japan for drugstore and online store entry in Japan, and offline entry in Japan is expected around July to August, which is also a positive factor."

She further added, "This year, Tony Moly is expected to see stepwise profit growth each quarter due to increased demand from foreign visitors to Korea and expansion of overseas sales."

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