Sunday 28 May 2017

LG profits double in second quarter

LG Electronics' company logo is displayed at their news conference at the Consumer Electronics Show (CES) in Las Vegas January 7, 2013. REUTERS/Rick Wilking
LG Electronics' company logo is displayed at their news conference at the Consumer Electronics Show (CES) in Las Vegas January 7, 2013. REUTERS/Rick Wilking

Se Young Lee

South Korea's LG Electronics said on Friday its second-quarter operating profit likely more than doubled from a year earlier, reaching a two-year high on strong appliances and television profits.

LG, in a regulatory filing, said April-June operating profit was likely 585 billion won ($503.92 million), compared with the average forecast for a 599 billion won profit tipped by a Thomson Reuters I/B/E/S survey of 23 analysts. It did not offer any additional details.

LG said revenue for the quarter likely rose 0.5pc to 14 trillion won, compared with 14.4 trillion won tipped by the Thomson Reuters I/B/E/S poll.

Reuters

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