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Amorepacific profit misses consensus by 65.0% in Q3

AMOREPACIFIC Group said its third-quarter normalized net income was 328.98 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 941.27 won per share.

EPS fell 14.2% year over year from 383.25 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.42 billion won, a decrease of 14.1% from 31.93 billion won in the prior-year period.

The normalized profit margin declined to 2.0% from 2.6% in the year-earlier period.

Total revenue climbed 11.4% on an annual basis to 1.347 trillion won from 1.209 trillion won, and total operating expenses increased 11.9% year over year to 1.158 trillion won from 1.035 trillion won.

Reported net income increased 5.1% year over year to 53.42 billion won, or 641.00 won per share, from 50.82 billion won, or 610.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.