THE WHAT? LG Household & Health Care has posted record earnings for the third quarter of the current financial year. Its KRW2.7 trillion revenue is the highest the K-beauty giant has ever recorded in a Q3 period, according to a report published by The Korea Herald.
THE DETAILS Revenue rose 5.4 percent year-on-year, while net profit was up an impressive 6.7 percent versus the same period in 2019 and operating profit inched up a respectable 5.1 percent.
THE WHY? The K-beauty behemoth said that, despite the pandemic, it saw strong sales of beauty products, with hair care brand Dr Groot particularly buoyant and luxury brands Whoo and CNP bouncing back after lockdown related dips earlier in the year.