VT is soaring on news that it recorded its highest quarterly performance.
As of 9:05 AM on the 14th, VT is trading at 27,950 KRW, up 16.67% from the previous day.
VT's first-quarter sales increased by 113% year-on-year to 101.8 billion KRW, and operating profit surged 3,766% to 24 billion KRW. In particular, the cosmetics division's profit rose 1,274% year-on-year to 21.4 billion KRW, exceeding market consensus.
Park Eun-jung, a researcher at Hana Securities, analyzed, "The reason for surpassing earnings expectations is due to strong sales of Riddle Shot," adding, "Maximizing product concentration (Riddle Shot accounting for 56%) and leveraging effects led to an operating profit margin reaching 33%."
VT's operating profit margin has been rapidly increasing, from 16% in 2022, 20% in 2023, to 33% in the first quarter of 2024. This indicates that the profitability of cosmetics has improved since the launch of Riddle Shot in 2023.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
