THAAD woes recede as LG Household & Health Care reports ‘highest ever’ third-quarter earnings

THAAD woes recede as LG Household & Health Care reports ‘highest ever’ third-quarter earnings

LG Household & Health Care has reported a ‘record’ rise in both sales and profit for the third quarter of the financial year, according to a report published by Yonhap News.

The K-beauty behemoth saw sales grow 2.9 percent to KRW1.6 trillion, while operating profit was up 3.5 percent to KRW253 billion for the July to September period. LG’s cosmetics unit posted a 7.7 percent rise in operating profit, with sales increasing 5 percent.

“While many companies faced difficulties from the beginning of the year due to the THAAD deployment and a sharp decline of inbound Chinese travellers, differentiated strategy with focus on luxury cosmetics and a balanced business portfolio resulted in record high results,” said the company in a press release.

 

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