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LG Household's net jumps over 10 pct in 2018 on its luxury cosmetics brands

All News 14:22 January 24, 2019

SEOUL, Jan. 24 (Yonhap) -- LG Household & Health Care Ltd., a major South Korean cosmetics and household goods maker, said Thursday its net profit jumped 12 percent on-year fueled by the popularity of its luxury cosmetic brands.

Its net profit came to 692 billion won (US$613 million) last year, compared with 618 billion won reported in 2017, the company said in a regulatory filing.

The company's sales came to 6.65 trillion won last year, up 10.5 percent on-year, with an operating profit of 1.03 trillion won, also up 11.7 percent on-year, it said.

"Luxury cosmetic brands led the growth of our cosmetics business in both the domestic and overseas markets," a LG Household & Health Care official said.

Its high-end skin care lineup -- the History of Whoo -- has been leading cosmetics growth by posting over 2 trillion won in sales last year, according to the company.

For this year, LG Household & Healthcare aims for 7.07 trillion won in sales and 1.09 trillion won in operating income.

This image, provided by LG Household & Health Care Ltd., shows a skin care product from its luxury brand the History of Whoo. (Yonhap)

sam@yna.co.kr
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