LG H&H(051900) said in a filing on the 29th that its preliminary second-quarter results came to 1.6574 trillion won in revenue and 102.8 billion won in operating profit. Compared with a year earlier, revenue rose 3.3% and operating profit increased 87.5%.
Net profit for the period rose 101.2% to 77.6 billion won. A company official said, "As the global growth of premium brands such as Dr. Groot continued, we sustained momentum on the back of strong performance in cultivation channels at home and abroad centered on functional products."
Second-quarter overseas revenue rose 12.6% from a year earlier to 584.5 billion won, accounting for 35% of total revenue. Of that, North America revenue climbed 47.3% to 205.8 billion won. In contrast, China revenue fell 5.0% to 176.0 billion won. North America revenue surpassing China is a first since LG H&H was split into an independent corporation after partitioning.
The beauty business returned to profit, posting 818.4 billion won in revenue and 44.4 billion won in operating profit, helped by brand portfolio reorganization and the expansion of growth channels such as digital commerce and H&B stores. Key brands including Dr. Groot, u:simol, Dominus, VDL, and hince continued to grow across online and offline channels at home and abroad.
The home care and daily beauty (HDB) institutional sector saw sales of functional products rise across major channels such as online and Costco, with revenue up 5.5% to 377.6 billion won and operating profit up 23.1% to 22.3 billion won.
The refreshments (beverages) institutional sector saw revenue inch up 0.5% to 461.4 billion won, but operating profit fell 15.1% to 36.1 billion won due to higher raw material prices and other factors.
LG H&H decided on an interim dividends of 1,500 won per share at a board meeting the same day. The record date is on the 14th of next month, and payment is scheduled by the 28th of the same month.
An LG H&H official said, "Based on our differentiated research and development capabilities, we plan to expand investment in high-potential markets and core channels to strengthen global competitiveness."