AmorePacific reported a jump of 77.4 percent for its Q4 earnings, boosted by a strong performance overseas.
The South Korea cosmetics maker reported net profit increase of 92 billion won ($76.2million) as opposed to 51.8 billion won the previous year. Operating income saw an increase of 62.6 percent reaching 161 billion won and sales reached 1.45 billion won, an increase of 22.9 percent.
Meanwhile, overall the company achieved a record-high for 2015, posting 5.66 trillion won in sales, which was up 20.1 percent year on year, while net profit and operating income saw a rise of 35.5 percent and 38.6 percent respectively.
The rise in popularity of Korean pop culture and growing distribution channels attributed to the growth, while a company statement read, “Duty-free sales by foreign travelers helped push up domestic sales, while Asian and North American markets showed fast growth.”
Various factors boosted the company’s results, with the success of best-selling brands such as Sulhwasoo (high end) and Laneige (mid-end) helping sales in the Asia region soar 51.5 percent in 2015. While North American achieved a 39 percent growth rate thanks to an expansion of distribution channels in the region.
Domestic sales jumped18.9 percent reaching 3.06 trillion won, while overseas sales rose 44.4 percent to 1.25 trillion won.