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LG Household & Health Care Reports Record High First Half Results
Sales 4.1tn won (+10.3% yoy), Operating Profit 706bn won (+10.9% yoy)
2Q Sales and profits also achieved record high of all times
July 22, 2021 – In 1H 2021, LG Household & Health Care, Ltd. (CEO: Suk Cha) delivered record high first half results. The Company reported 4.1tn won in sales (+10.3% yoy), 706bn won in operating profit (+10.9% yoy) and 485bn won in net profit (+10.6% yoy).
The strong performance in the first half was mainly supported by continuing growth of luxury cosmetics and China business. Optimism towards the recovery from COVID-19 continued throughout the quarter as vaccine rollout expanded, but the pace of recovery is still in question as Delta variant creates further uncertainty and is likely to cause delay. The ‘Total Beauty’ business, Beauty combined with Daily Beauty, achieved 2.9tn won in sales, and 573bn won in operating profit increasing 14.9% and 17.4% yoy, respectively.
In 2Q 2021, sales increased 13.4% yoy to 2.0tn won, operating profit increased 10.7% yoy to 336bn won, and net income increased 10.6% yoy to 226bn won. While the overall business environment was unfavorable for HDB, with high base burden from last year’s hygiene product demand, and Refreshment, with headwinds coming from the cost pressure due to rising raw material prices, the company delivered record high 2Q sales and profits supported by luxury cosmetics. Sales has increased for sixty-two quarters since 3Q 2005 except for two quarters, and operating profit has increased for sixty-five quarters since 1Q 2005 except for one quarter.