SEOUL, South Korean cosmetics giant Amorepacific Corp. said Monday that its third-quarter net profit fell 39.8 percent from a year earlier on increased one-off costs.
For the three months ended Sept. 30, net profit reached 48.1 billion won (US$42.2 million), down from 79.8 billion won a year earlier, the company said in a statement.
Amorepacific said increased labor and marketing costs hurt its bottom line.
Sales rose 5.7 percent on-year to 1.27 trillion won over the cited period, and operating profit declined 24.3 percent to 76.5 billion won, the company said.
The price of shares in Amorepacific nosedived 12.81 percent to 160,000 won on the Seoul bourse, while the broader KOSPI shed 1.53 percent. The earnings results were released during trading hours.
Source: Yonhap News Agency