The lifestyle beauty company Aekyung Industrial announced on the 31st that its consolidated operating profit for the second quarter of this year was 11.2 billion won, a 36.1% decrease compared to the same period last year.
Sales decreased by 1.3% to 171.3 billion won, and net profit dropped by 14.1% to 11.1 billion won.
The cosmetics division recorded second-quarter sales of 62.5 billion won and operating profit of 6.8 billion won, down 14.4% and 45.7%, respectively, compared to the same period last year.
Despite the high growth in the second quarter last year causing a base effect, the cosmetics division is enhancing its competitiveness and securing growth momentum through strengthened marketing strategies to improve brand awareness both domestically and internationally.
During the same period, the sales of the household goods division increased by 5.9% year-on-year to 105.1 billion won, while operating profit recorded a decrease of 16.7% to 4.1 billion won.
Although sales increased due to stable performance in major domestic and overseas channels, operating profit declined as a result of increased investment in brand and marketing.
Aekyung Industrial noted that it plans to establish strategies reflecting changes in domestic and international consumer environments and market trends, such as strengthening profitability based on premium products, enhancing globalization, and responding to growth channel platforms, while increasing competitiveness in each market and laying the foundation for long-term growth.