LG Elec­tron­ics’ op­er­at­ing in­come up 4.3% on home ap­pli­ance, TV biz

The Korea Times - - BUSINESS -

LG Elec­tron­ics said Mon­day its third-quar­ter op­er­at­ing profit is ex­pected to have in­creased 4.3 per­cent from a year ear­lier on the back of its ro­bust home ap­pli­ance and TV busi­nesses.

In an earn­ings guid­ance, the elec­tron­ics maker said it ex­pects to post 781.1 bil­lion won ($652 mil­lion) in op­er­at­ing profit in the July-Septem­ber pe­riod.

The fig­ure was above the me­dian fore­cast of 605.5 bil­lion won op­er­at­ing profit in a sur­vey con­ducted by Yon­hap In­fo­max, the fi­nan­cial arm of Yon­hap News Agency, on 23 Korean bro­ker­age houses.

Its sales are ex­pected to be 15.7 tril­lion won in the third quar­ter, a 1.8 per­cent in­crease from a year ear­lier, the com­pany said. The fig­ure is the high­est for the third quar­ter.

The com­pany did not pro­vide de­tails for each di­vi­sion, say­ing it will re­lease its earn­ings re­port later this month.

An­a­lysts at­trib­uted the bet­ter-than-ex­pected earn­ings to the com­pany’s cost-cut­ting ef­forts in its mo­bile busi­ness, which has been slug­gish for years.

LG also an­nounced that it will com­plete the re­lo­ca­tion of its Korean pro­duc­tion line to Hai Phong, a north­ern Viet­namese city, by the end of this year to re­duce costs.

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