Amorepacific Q1 net income down 25.3 pct to 89.7 bln won

Amorepacific-Q1 earnings

Amorepacific Q1 net income down 25.3 pct to 89.7 bln won

SEOUL, May 2 (Yonhap) -- Amorepacific Corp. on Tuesday reported its first-quarter net profit of 89.7 billion won (US$66.8 million), down 25.3 percent from a year earlier.

The company said in a regulatory filing that operating income for the January-March period fell 59.3 percent on-year to 64.4 billion won. Sales decreased 21.6 percent to 913.7 billion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 55.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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