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(LEAD) LG Household's Q1 net gains 3.7 pct

All News 15:14 April 23, 2020

(ATTN: RECASTS headline, lead; ADDS more info throughout, photo)

SEOUL, April 23 (Yonhap) -- LG Household & Health Care Ltd. said Thursday its net profit gained 3.7 percent on-year on the back of the popularity of its luxury cosmetics brands and households goods.

Net profit came to 234.2 billion won (US$189.9 million) in the January-March period, compared with 225.8 billion won reported a year earlier, the major South Korean cosmetics and household goods maker said in a regulatory filing.

This undated photo, provided by LG Household & Health Care Ltd., shows the company logo. (PHOTO NOT FOR SALE) (Yonhap)

The company's sales came to 1.89 trillion won during the cited period, up 1.2 percent on-year, with an operating profit of 333.7 billion won, up 3.6 percent on-year, it said.

LG Household & Health Care said its better-than-expected sales came despite the ongoing new coronavirus outbreak that has weakened demand from both overseas and local markets.

The company said sales of its household goods business expanded by 19.4 percent on-year on the back of demand for sanitary products, such as hand washers and wet tissues.

LG Household & Healthcare said its high-end skin care lineup, such as the History of Whoo, also posted strong sales.

khj@yna.co.kr
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