On the 7th morning, Amorepacific shares are up more than 8%. The jump came after results showed operating profit in the third quarter of this year surged more than 40%.
As of 9:17 a.m. on the same day, Amorepacific was trading at 128,900 won on the Korea Exchange, up 10,300 won (8.68%) from the previous session.
Earlier, Amorepacific disclosed that its operating profit for the third quarter of this year was tentatively tallied at 91.9 billion won. That was up 41% from a year earlier. Revenue was 1.0169 trillion won, up 4.1% over the same period.
Heo Jena, an analyst at DB Financial Investment, said in a report the same day that "the China subsidiary, which had emerged as a performance risk, returned to profitability through intensive restructuring and channel shifts," and noted that "COSRX is also seeing revenue improvement."