Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

LG Appliance Business Profit Up 48%
Apr 26, 2012
 Printable format
 Email this Article
 Search

LG Electronics said that, after two quarters of net losses, the company had a net profit in the first quarter of 2012. LG reported a net profit of KRW 243 billion (approx. US$214.9 million), which it said was a result of the company's efforts to innovate in all key business areas and focus on high-performing products.

LG reported consolidated revenues of KRW 12.2 trillion ($10.8 billion) and an operating profit of KRW 448 billion ($396.1 million). This compares favorably to the consolidated operating profit of KRW 280 billion for all of 2011.

LG Home Appliance Company's first quarter 2012 operating profit increased 48% from 1Q 2011 to KRW 152 billion ($134.4 million), which came thanks to higher average sales prices, a better product mix, and cost efficiencies. Revenue was down 2.7% year-over-year, to KRW 2.5 trillion ($2.2 billion), primarily reflecting a slowdown in China and in developed markets.

LG Air Conditioning and Energy Solution Company saw operating profit more than double from 1Q 2011 to KRW 81 billion ($71.6 million) thanks to new high-end products and cost structure improvements. First-quarter revenues were essentially flat, down 1.2% year-over-year to KRW 1.2 trillion ($1.1 billion). LG believes that government policies to promote energy-efficient products in homes and businesses will create new growth opportunities for the company.

Back to Daily News

 

Daily News

...........................................................

Apr 16, 2014: Home Builder Confidence Steady in April

Apr 16, 2014: Little Swan Sees China Becoming a Front-Loader Washing Machine Market

Apr 16, 2014: Hisense Poised for Continued Growth in Africa

Apr 16, 2014: Sensor Hubs Seeing Big Gains

Apr 10, 2014: AGA Rangemaster Names Kathryn M. Ireland To Be North American Brand Ambassador

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows