LG Household & Health Care (LG H&H) delivered record-high annual results in 2019. The company reported 7.7 trillion won in sales, up 13.9 percent from 2018, 1.2 trillion won in operating profit, an increase of 13.2 percent, and 788 billion won in net profit, a 13.9 percent increase on year.
The company managed to achieve stable and outstanding performance every quarter throughout the year despite the unfavorable business environment caused by a prolonged domestic economic slowdown, the U.S.-China trade war, China's introduction of an e-commerce law, and the protests in Hong Kong.
The company has recorded positive results in both domestic and overseas markets. Luxury cosmetics brands "Whoo," "su:m" and "O HUI" have achieved outstanding performance based on brand competitiveness. Overseas businesses attained 48 percent growth on year led by sales growth in China and Japan.
The company has also secured a new business growth engine through the acquisition of Avon, which will help it penetrate the North American cosmetics market and prepare for global expansion.
In the fourth quarter of 2019, sales increased 18.5 percent on year, surpassing 2 trillion won for the first time on a quarterly basis. Operating profit increased 14.3 percent to 241 billion won. The sales and operating profit figures were record-high for fourth quarter results. The company extended its streak of sales and operating profit growth to 15 consecutive years.