Seoul: Amorepacific Corp., South Korea's leading cosmetics maker, announced a surprising turnaround in its financial performance for the fourth quarter, reporting a net profit of 22.5 billion won (US$15.3 million). This marks a significant recovery from a net loss of 46.2 billion won recorded in the same quarter the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the October-December period was 52.5 billion won, which represents a 33 percent decline from the previous year. Despite this decrease in operating profit, the company experienced a 6.6 percent increase in sales, totaling 1.16 trillion won for the quarter.
The financial outcomes, however, did not meet market expectations. Analysts had anticipated a higher net profit, with the average estimate being 44.8 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.