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LG Electronics Posts 46 Percent Jump in 2014 Operating Profit

LG Electronics Posts 46 Percent Jump in 2014 Operating Profit

By Reuters | Updated: 28 January 2015 16:29 IST

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South Korea's LG Electronics Inc on Wednesday said its 2014 operating profit rose 46 percent to 1.8 trillion ($1.66 billion, roughly Rs. 10,185 crores), buoyed by strong demand for television sets as well as a turnaround in its smartphone business.

The result was largely in line with analysts' estimates for a 1.9 trillion KRW profit. LG said it had made a 1.2 trillion KRW profit for 2013.

For the October-December quarter alone, LG booked a profit of 257 billion KRW, according to Thomson Reuters calculations based on the electronic goods maker's prior disclosures.

That was slightly below the average forecast of 299 billion KRW made in a Thomson Reuters I/B/E/S survey of 35 analysts. Earnings for the previous three quarters are subject to revision, however, meaning that LG Electronics could report a different quarterly profit figure.

The company will disclose details for its fourth-quarter results on Thursday. An LG spokesman declined to comment on specifics for the period.

© Thomson Reuters 2015

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