LG Electronics Reports Surge in Q3 Net Profit Oct 23, 2003

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LG Electronics has reported that its third-quarter net profit surged 92.8 percent year-on-year to 223.8 billion won (U.S. $191.3 million).

The South Korean electronics and appliance producer said sales for the July-September period increased 5.2 percent year-on-year to 4.92 trillion won, with its quarterly operating profit totaling 185.1 billion won.

Compared with the previous quarter, however, LGE's net and operating profits fell 16.3 percent and 29.4 per cent, respectively.

Ordinary profit for the just-ended 3-month period also fell 14.1 percent from the previous quarter to 321.7 billion won.

Meanwhile, LG.Philips LCD reported third-quarter sales had risen to 1.67 trillion won, with quarterly operating profit totaling 376.2 billion won. The company said it retained its leadership position in the global LCD market for the fourth consecutive quarter. (Yonhap, Asia Pulse)

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