Korean cosmetics company Kolmar has seen its shares surge over 25% following the announcement of record earnings for the second quarter of this year.
As of 1:58 PM on August 12, Kolmar's stock was trading at 135,300 won, up 27,400 won (25.39%) from the previous trading day, according to the Korea Exchange.
The company's second-quarter results exceeded market expectations, leading to improved investor sentiment.
Kolmar reported consolidated revenues of 861.3 billion won and an operating profit of 110.3 billion won for the second quarter. This represents a 17.8% increase in revenue and a 50.2% rise in operating profit compared to the same period last year, marking the highest figures on a quarterly basis.
Notably, the operating profit surpassed the market forecast of 94.9 billion won compiled by financial information provider FnGuide by approximately 16%. The net profit for the same period also rose to 70.6 billion won, a 68.9% increase.
The company continued its growth trend in the first half of the year, with cumulative revenues reaching 1.5893 trillion won, up 14.8% year-on-year, and operating profit increasing by 41.8% to 189.2 billion won. The net profit for the first half was 130.6 billion won, reflecting a 100.9% increase.
Kolmar attributed its success to the expansion of indie brands into global markets and the seasonal demand for skincare and sun care products, stating, "Orders increased, particularly for skincare and sun care products, due to the peak season and the continued launch of new products by global clients, resulting in record quarterly earnings."
* This article has been translated by AI.
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