South Korean tech firm LG Electronics logged a double-digit growth in the third-quarter operating profit due to strong sales of home appliances and automotive parts, the company said on Tuesday.
Preliminary operating profit advanced 33.5 per cent from a year earlier to 996.7 billion won (737.8 million U.S. dollars) in the July-September quarter, topping market expectations of about 830 billion won (614.4 million dollars).
Preliminary revenue declined 2.2 per cent to 20.71 trillion won (15.3 billion dollars), but it marked the second-highest third-quarter revenue in the company’s history.
The positive earnings were driven by the increased sales of home appliances and auto parts despite the economic slowdown and the prolonged fall in demand.
Net income and detailed earnings in each business unit will be unveiled later this month.