LG Sees Rising Earnings and Profit in 2Q18 and 1H18

LG Sees Rising Earnings and Profit in 2Q18 and 1H18
Fotolia

LG reported consolidated global sales of 15.02 trillion won ($13.9 billion) and operating profits of 771 billion won ($715.1 million) for the second quarter of 2018, the Korean company reported.

Second-quarter sales rose 3.2 percent while operating profits increased 16.1 percent when compared to the same period last year. Strong profitability from home appliances and air solutions and premium home entertainment products offset second-quarter operating losses from vehicle components and mobile communications.

First-half 2018 sales and operating profits were at all-time record highs. Revenues increased 3.2 percent from the 2017 first half to 30.14 trillion won ($28 billion) and operating income rose 18.5 percent to 1.88 trillion won ($1.7 billion). In light of uncertainties surrounding market conditions, competition and the international trade landscape going forward, LG enters the second half with an intense focus on cost competitiveness and profitable growth.