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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Aekyung Industrial reported a consolidated operating loss of approximately KRW 1.588 billion for the first quarter of this year, the company disclosed on May 11. This marks a turnaround from an operating profit of around KRW 6.0 billion recorded in the same period last year.
Revenue for the quarter rose 5.1% year-on-year to approximately KRW 158.8 billion, compared with KRW 151.1 billion a year earlier.
The company attributed the operating loss primarily to one-off expenses, including special performance bonuses. Excluding these non-recurring costs, operating profit stood at approximately KRW 5.7 billion.
By business segment, the core cosmetics division posted an operating loss of about KRW 1.5 billion in the first quarter, also turning to a loss. However, excluding one-off costs, the division recorded an operating profit of roughly KRW 0.5 billion. Revenue in the segment increased 13% year-on-year to KRW 51.9 billion, up from KRW 45.9 billion.
Meanwhile, the household goods segment saw a sharp decline in profitability. Operating profit fell 95.8% year-on-year to KRW 0.2 billion from approximately KRW 4.9 billion. Revenue in the segment edged down 0.3% to KRW 103.7 billion from KRW 104.0 billion over the same period.
Aekyung Industrial stated that it aims to evolve into a global beauty company by diversifying its presence in overseas markets and expanding its product portfolio. To this end, the company is pursuing strategies focused on strengthening responsiveness to growth channels and platforms, as well as enhancing profitability with a premium-oriented approach.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
