Coreana Cosmetics Reports 74.5% Decrease in Operating Profit Year-on-Year Last Year

Koreana Cosmetics announced on the 7th that its operating profit on a consolidated basis last year was 876.08 million KRW. This represents a 74.5% decrease compared to the previous year.

During the same period, sales amounted to 80.39394 billion KRW, down 7.6%, and net profit was 1.57785 billion KRW, a decrease of 52.3%.

Koreana Cosmetics explained, "The decline in sales from personal distribution and the COVID-19 lockdown policies in China led to a decrease in operating profit of the Tianjin subsidiary."