kb-network    News 24 Feb 2017
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Home appliance specialist LG post highest ever operating profits for 2016’s fourth quarter

LG Electronics Inc. (LG) announce 2016 operating profit of KRW 1.3 trillion (GBP 930 million) for fourth-quarter.

Exhibiting a 12.2% operating profit from 2015, LG’s 2016 financial success seems to be on track for an equally impressive 2017.

Due in large part to the strong performance in home appliances, air solutions, and home entertainment, LG’s full fiscal year revenue was reported as KRW 55.3 trillion (GBP 3.8 billion), with a net income of KRW 126.3 billion (GBP 87.7 million).

With an increase of 5.6% year-over-year, LG have stated this is was “driven in large part by strong sales in the Korean and North American markets where products such as TWINWash washing machines and Door-in-Door refrigerators continued to be popular.” Operating income for this sector stood at KRW 1.3 trillion (GBP 923 million), showing 36% growth compared to 2015 and making it the highest increase among all LG Companies.

 

LG Electronics Inc. / lgnewsroom.com