Amorepacific Q3 net falls 14.3 percent on non-operating costs

Amorepacific Corp., Korea's leading cosmetics company, said Thursday its third-quarter net profit fell 14.3 percent from a year earlier, weighed down by non-operating costs. Net profit for the three months ended September fell to 58.5 billion won ($43.8 million) from 68.2 billion won in the same period last year, the company said in a press release. The company did not immediately provide details of the non-operating costs. Operating profit climbed 25.4 percent to 115.2 billion won from 91.89 billion won, while sales increased 11.1 percent to 1.12 trillion won from 1.02 trillion won. The company attributed its overall performance to solid growth in key overseas markets, including the United States, Japan and India. Demand for brands, such as Aestura and Innisfree, remained strong in overseas markets, supported by the continued global popularity of K-beauty products, the company said. In Korea, strong sales of major brands, including Hera and Sulwhasoo, along with double-digit growth in e-commerce; multi-brand retailers, such as CJ Olive Young; and duty-free channels, contributed to the qua