Tuesday, May 13th, 2014
SEOUL, KOREA - The share price of Amorepacific Corp. has risen for two consecutive trading days largely due to the first-quarter "surprise" financial results. At 1:40 pm on May 12, the shares of Korea's largest cosmetic maker were traded at 1,476,000 won, up 4.68 percent from the previous day's 1,410,000 won.
Earlier on the 9th, the company said in a regulatory filing that its first-quarter consolidated operating profit was 175,699 million won, up 25.4 percent from the same period a year ago. During the same period, its sales revenue increased 15.9 percent to 931,823 million won and net profit 35.6 percent to 122,936 million won. On the same day, Amorepacific's share price shot up 10.94 percent and is continuing the upward momentum on Monday.
IBK Investment & Securities analyst Ahn Ji-young said, "The company's profitability, as well as sales revenue, has improved noticeably both in the home market and elsewhere. The growth outlook for its duty-free, digital, and overseas businesses is 77, 31, and 52 percent, respectively, which are way above expectations."
