Seoul: Cosmax Inc. on Tuesday reported its second-quarter net profit of 50 billion won (US$35.3 million), marking a 129 percent increase from the same period last year.
According to Yonhap News Agency, the South Korean cosmetics company disclosed in a regulatory filing that its operating profit for the April-June period increased by 21.2 percent year-on-year, reaching 73.7 billion won. Additionally, Cosmax's revenue saw a significant rise of 27.5 percent, totaling 794.9 billion won.
The company's earnings surpassed market expectations, as analysts had predicted an average net profit of 40.4 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm associated with Yonhap News Agency.