Seoul:South Korean beauty tech company APR Corp. reported a third-quarter net income of 110.2 billion won (US$82.2 million), marking a 47.6 percent increase from the previous year.
According to Yonhap News Agency, the company, known for operating brands like Medicube and Aprilskin, disclosed in a regulatory filing that its operating profit for the quarter was 160.6 billion won, up from 95.1 billion won in the same period last year. Additionally, APR Corp.'s revenue saw a significant rise of 100.3 percent, reaching 773.1 billion won.
Despite the impressive growth in income and revenue, APR Corp.'s earnings fell short of market expectations. Analysts had predicted an average net profit of 132.9 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.