LG Electronics posts record sales, profits up 10%

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LG Electronics posts record sales, profits up 10%

Corporate February 04, 2019 16:38

By The Nation

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LG Electronics on Monday announced record full-year revenue of 61.3 trillion South Korean won (Bt1.1 trillion) for last year, exceeding sales of 60 trillion SKW for the second year in a row.

Full-year profit of 2.7 trillion SKW was nearly 10 per cent higher than the level achieved in 2017, reflecting record profitability from appliances and home-entertainment products, according to the South Korea-based company’s release.

Fourth-quarter revenues of 15.77 trillion SKW were higher than in the third quarter, but 7 per cent below the last quarter of 2017, primarily due to lower sales of mobile products.

As a result, fourth-quarter operating income declined to 75.7 billion SKW.

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