LG Electronics announced unaudited consolidated earnings results of the three month period ended Dec. 31, 2007. Thanks to stable operations from all business divisions, its sales soared to the company's record-high level. Sales in the fourth quarter of 2007 jumped 12.0% on year to KRW 10.91 trillion (approx. US$11.85 billion) and net profit on parent basis reached KRW 621 billion ($674 million). Operating profit recorded KRW 381 billion ($414 million), which makes the profit margin at 3.5%, 1.9% point higher than the previous year.
2007 annual sales increased 11.2% to KRW 40.85 trillion ($43.97 billion), and operating and net profit recorded KRW 1.23 trillion ($1.32 billion) and KRW 1.222 trillion ($1.315 billion).
Digital Appliance Company sales rose 5.1% to KRW 2.473 trillion ($2.685 billion) on year, primarily due to continuous sales boost of commercial air-conditioners in Korea and steady growth in India and Middle East and Africa regions. Digital Display Company sales increased 24.1% from a year earlier, powered by rise in sales of plasma and LCD digital TVs.
The company's goal for 2008 sales is over 10% from 2007. In the display division, LG aims to increase its market share in flat panel display TVs, to 17 million in unit sales, and turn around the company's position profitable in the global market.
to Daily News