SEOUL - Amorepacific Corp. reported a substantial increase in its fourth-quarter net income, marking a 55.5 percent rise to 38.2 billion won (US$28.8 million) compared to the previous year. This announcement was made on Tuesday in a regulatory filing by the company.
According to Yonhap News Agency, the financial data firm of Yonhap News Agency, the reported earnings exceeded market expectations. Analysts had predicted an average net profit of 15.6 billion won. However, the company experienced a decline in operating profit for the October-December period, which fell 63.7 percent from a year ago to 20.7 billion won. Revenue also decreased by 14.9 percent, totaling 926 billion won.