AmorePacific Posts Strong Sales Growth, Profit Decline In 3Q 2013

South Korea’s AmorePacific reported operating profit fell 5.6 percent in the third quarter of 2013 although the cosmetics company’s overall sales grew 8.8 percent during the period. Several factors, including investment and marketing expenses, adversely affected the company’s overall profitability. In the third quarter of 2012, the company also posted strong sales combined with an 18 percent increase in operating profit. Two trends highlight the company’s hopes and problems for the future: growing sales in Asia and losses in Europe.