(LEAD) AmorePacific's Q1 net profit down 25.3 pct on-year on weaker sales

▲ The corporate logo of South Korean cosmetics giant AmorePacific Corp. provided by the company. (PHOTO NOT FOR SALE) (Yonhap)

(LEAD) AmorePacific-Q1 earnings

(LEAD) AmorePacific's Q1 net profit down 25.3 pct on-year on weaker sales

(ATTN: RECASTS headline, lead; UPDATES throughout)

SEOUL, May 2 (Yonhap) -- AmorePacific Corp., a cosmetics giant, on Tuesday reported a 25.3 percent decrease in net profit in the first quarter from a year earlier due to sluggish sales amid a global slowdown.

AmorePacific posted a net profit of 89.7 billion won (US$66.8 million) on a consolidated basis in the January-March period, compared with 120 billion won logged a year ago, according to its regulatory filing.

Sales tumbled 21.6 percent on-year to 913.7 billion won and operating profit fell 59.3 percent to 64.4 billion won.

Overseas revenue dropped 16.8 percent to 349.4 billion won, largely due to a decrease in sales in the Chinese market.

But its sales in the North American region grew 80 percent and 94 percent in the European, Middle Eastern and African regions thanks to the popularity of its mid-end Laneige brand.

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