S.Korea's LG Household & Healthcare plunges as earnings growth slows

LG H&H

26/07/2019 06:26

** Shares of LG Household & Healthcare  051900.KS  plunge as
its cosmetic business slows from previous quarter after posting
rapid growth for years
    ** Shares fall more than 6% to a 2-mth low
    ** LG H&H says http://www.lghnh.com/upload/invest/attach_file_2019072513072356.pdf
 its Q2 operating profit rose 12.8% at 302 bln won ($255.15
mln), while profit from its cosmetic business grew 16.3%
    ** For 2018, its cosmetic business posted a 23.1% rise in
profit
    ** Cosmetic industry has already grown enough, so the
company is unlikely to post rapid growth like previous days,
with less room for further growth, says Kim Hye-mi, an analyst
at Cape Investment & Securities
    ** Broader KOSPI market  .KS11  down 0.6%

 ($1 = 1,183.6000 won)

 ((hayoung.choi.thomsonreuters.com@reuters.net))