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Amorepacific profit beats consensusin Q2

AMOREPACIFIC Group said its normalized net income for the second quarter amounted to 509.92 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 100.80 won per share.

EPS climbed 59.7% year over year from 319.22 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 42.49 billion won, a gain of 59.9% from 26.58 billion won in the year-earlier period.

The normalized profit margin climbed to 3.0% from 2.3% in the year-earlier period.

Total revenue climbed 20.1% year over year to 1.413 trillion won from 1.177 trillion won, and total operating expenses increased 16.4% from the prior-year period to 1.170 trillion won from 1.005 trillion won.

Reported net income grew 45.7% year over year to 71.32 billion won, or 856.00 won per share, from 48.96 billion won, or 588.04 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.