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[Alpha Biz=(Chicago) Reporter Kim Jisun] Aekyung Industrial posted positive results in the second quarter of this year thanks to strong sales of premium household goods and global business growth.
Aekyung Industrial announced on the 10th that its operating profit (based on consolidation) in the second quarter was 16.6 billion won, up about 295% from a year earlier. Sales are up about 14% to 162.1 billion won.
Sales of the cosmetics business rose about 21% to 61.1 billion won, while operating profit rose about 135% to 9.7 billion won. This is the effect of double-digit growth in global business sales such as China, Japan and the United States. In Korea, the company explained that it has expanded its target customer base by fostering strategic categories such as strengthening its own mall and launching products suitable for distribution channels.
Sales of household goods increased about 11% to 101 billion won. Operating profit surged from 100 million won in the second quarter of last year to 6.9 billion won in the second quarter of this year. The company explained that it has built a brand portfolio around premium and strengthened e-commerce operations. Sales of global household goods businesses such as Asia and North America also increased on the back of expansion of distribution channels and localization strategies.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
