Aekyung Industrial announced on the 29th that its first-quarter performance resulted in sales of 151.1 billion won and operating profit of 6 billion won. Compared to the same period last year, sales decreased by 10.7% and operating profit by 63.3%.
The cosmetics business recorded first-quarter sales of 45.9 billion won and operating profit of 1.1 billion won. This represents a decrease of 27.2% and 88.4%, respectively, compared to the same period last year.
Despite a decline in performance due to weakened consumer sentiment in the Chinese market and intensified competition on platforms, the company noted that it continued its growth in markets such as Japan by strengthening country-specific strategies for global diversification and expanding its consumer base.
The household goods business reported sales of 105.1 billion won and operating profit of 4.9 billion won, which is a decrease of 0.8% and 26.0%, respectively, compared to the same period last year. While the company strengthened its portfolio of personal care and premium products and began expanding its global operations, profitability decreased due to intensified domestic channel competition and rising cost pressures.
Aekyung Industrial stated that it has established strategies reflecting changes in the global consumer environment and major market conditions, including ▲strengthening premium-based revenue ▲globalization ▲enhancing responses to growing channel platforms, while aiming to improve competitiveness in each market and lay the groundwork for long-term growth.