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Amorepacific Reports 29% Rise in Q3 Net Profit, Fueled by Affiliate Equity Gains

Amorepacific's Q3 net profit surges 29% YoY, boosted by affiliate equity gains, while cosmetic sales in global markets offset declines in China
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Amorepacific Group, South Korea’s top cosmetics company, announced a 29% YoY rise in Q3 net profit, reaching 41.7 billion won. The increase is attributed to gains from affiliates, notably skin care firm COSRX. Higher cosmetic sales in Japan, Europe, the US, and the Middle East balanced out reduced sales in China, duty-free stores, and the e-commerce sector. Operating profit saw a 13% drop, totaling 28.79 billion won, while sales decreased by 5.7% to 963.35 billion won. For Jan-Sep, net income surged 35% to 186.82 billion won, but operating profit declined 37% to 122.15 billion won, with sales at 3 trillion won.

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