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Aekyung Industrial posts record earnings in Q3

Nov 01,2018
Aekyung Industrial posted record earnings for the year’s third quarter, with operating profit rocketing up 50 percent year on year.

A local manufacturer of beauty products and daily necessities, Aekyung generated 22.4 billion won ($19.7 billion) in operating profits between July and September, 49.9 percent more than during the same period last year. Its revenue was 180.4 billion won, up 10.9 percent year on year.

Once again, the biggest contributor was the ongoing success of its beauty brands AGE 20’s and LUNA. Combined, their sales rose by 63.8 percent and their operating profits were up 53 percent.

Daily necessities, traditionally the company’s main business sector, saw sales slip 7.4 percent. Operating profits, on the other hand, jumped 93.7 percent thanks to the company’s efforts to cut down on sales and administration costs.

By Song Kyoung-son