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Oct 24, 2019 – In 3Q 2019, LG Household & Health Care, Ltd. (CEO: Suk Cha) delivered record high 3Q results. The Company reported 2.0tr won in sales (+13.1% yoy) and 312bn won in operating profit (+12.4% yoy).
Despite the concern on slowdown of economy in major markets in Asia including Korea and China, Beautiful still achieved solid growth as the demand for luxury cosmetics remained strong. Healthy not only accomplished positive growth in the shrinking domestic market, but also expanded overseas business in Japan and China backed by the positive initial market response. Refreshing sales maintained steady growth driven by the strong performance of major brands.
New Avon, acquired during 3Q, plans to focus on profitability improvement rather than top- line growth and will support the entry into the Americas (North and South America), the largest global cosmetics and personal care market, along with the Asian market. Notably, Healthy sees great potential in geographical business expansion as the US is the largest personal care market, about twice the size of China's personal care market.
Sales has increased for fifty-six quarters since 3Q 2005, and operating profit has increased for fifty-eight quarters since 1Q 2005.
3Q YTD 2019 Sales increased 12.3% yoy to 5.7tn won and operating profit increased 12.9% yoy to 935bn won achieving record high 3Q YTD results of all times.