Beauty platform company CTK (CEO Jeong In-yong) announced on the 14th that it recorded consolidated sales of approximately 23.1 billion KRW and operating profit of about 700 million KRW in the second quarter of this year. On a separate basis, sales were approximately 18.9 billion KRW, and operating profit was about 1.2 billion KRW.
Consolidated sales increased by 25.9% compared to the previous quarter, and operating profit turned positive, increasing by 1.5 billion KRW from an operating loss of 800 million KRW in the previous quarter.
A CTK representative explained, “In the first quarter, sales temporarily slowed due to circumstances of a major client with a high sales proportion, but from this quarter, overall sales volume was able to return to an increasing trend thanks to increased orders from other clients and portfolio diversification.”
They also stated, “Based on the current order backlog and ongoing contract discussions, we expect strong sales momentum to continue into the third quarter.” Additionally, since CTK’s structure has over 70% of cosmetic sales directed to North American clients, the rise in the KRW/USD exchange rate is also contributing to improved performance.
Meanwhile, CTK recently launched an OTC (over-the-counter) cosmetics development service tailored to North American demand, providing a service that reflects the strict regulations of the U.S. FDA while enabling rapid product production and development.
Jeong In-yong, CEO of CTK, said, “While continuously creating new brands on the CTKCLIP platform, we will strive to achieve this year’s performance targets by maintaining continuous reorders from global brand clients.”
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