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Biz News Korea(Eng)

Able C&C earns $8.5 mn in Q423, up 14.2 percent on year

Collected: 2024.02.15

Distributed: 2024.02.16

Source: Go Direct

[Courtesy of Able C&C]

South Korean cosmetics chain Able C&C. included earnings results for 2023 in its latest disclosure.

The budget-friendly chain reported an operating profit of 11.4 billion won ($8.5 million) for 2023, a 14.2 percent increase from the year before. With sales hitting 273.6 billion won, reflecting a 10.4 percent growth, the company’s net profit amounted to 6.1 billion won.

The surge was led by the company’s diverse brand portfolio, anchored by its flagship brands such as Missha, A’pieu, and Stila, all of which cater to distinct customer groups.

Able C&C also benefitted from its expansion efforts in overseas markets such as Europe, the United States, and Japan. The company saw a 65.9 percent year-on-year decrease in operating profit to 2.2 billion won in the fourth quarter of 2023, while sales climbed 4.5 percent to 70.6 billion won during the period.

Able C&C announced a cash dividend of 157 won per share in the disclosure.

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