APR, a domestic beauty corporations whose stock has been on a tear, hit a new 1-year high.
According to the Korea Exchange on the 1st, APR was trading at 262,500 won as of 9:38 a.m., up 12,500 won (5.00%) from the previous trading day. Early in the session, it rose to 263,000 won, setting a new record high again.
This is seen as investor sentiment flocking to APR on expectations for strong third-quarter results this year. NH Investment & Securities estimated APR's third-quarter results at 377 billion won in revenue, up 116%, and 90 billion won in operating profit, up 230%. Yuanta Securities Korea also expected APR's third-quarter results to beat market expectations.
Jeong Ji-yun, an analyst at NH Investment & Securities, said, "Consolidated revenue in the third quarter is expected to increase 15% quarter over quarter, beating consensus," and noted, "Strong online event sales in the United States and Japan and an expansion of B2B volume were key." She added, "The fourth quarter is also a period of simultaneous expansion across online and offline channels, so record-high results are expected."