Aekyung Industrial posted its highest-ever quarterly sales in the second quarter, driven by strong overseas growth in its cosmetics and personal care segments.
The company said Wednesday that consolidated second-quarter sales rose 13.3 percent year-on-year to 194.2 billion won ($137 million), a record for any single quarter. Overseas sales accounted for 42 percent of total revenue, up 7 percentage points from the same period last year. Operating profit came in at 4.5 billion won, swinging to a profit from the previous quarter, while net profit for the period reached 4.6 billion won.
By segment, cosmetics sales climbed 20.5 percent year-on-year to 75.3 billion won, with operating profit of 4.1 billion won. Earnings in the division recovered on the back of a restructured China business and a reorganization of online and offline channels.
In Japan, the company expanded its offline retail presence around its makeup brand Luna, and entered CJ Olive Young stores in the United States, marking its full-scale push into the offline market there. It also secured placement in major retail channels in Russia and Central Asia.
The household products segment posted sales of 115.2 billion won, up 9.6 percent, with operating profit of 400 million won. Growth continued in the United States and Europe, led by hair and body care products. Domestically, the company reorganized its retail channels around online platforms to adapt to shifting consumer patterns.
"Consumer preferences for products and marketing differ by country, so we are broadening our reach through market-tailored strategies," an Aekyung Industrial official said. "We will continue to enter major global retail channels and explore new markets to expand the foundation for our global business."
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