LG Electronics reports 11 pc decline in Q1 profit as costs rise ...Middle East

Seoul: LG Electronics said on Friday that its operating profit for the first quarter of this year fell more than 10 per cent from a year earlier, due to rising costs and intensifying competition. Its first-quarter operating profit came to 1.33 trillion won ($984.9 million), down 11 per cent from 1.5 trillion won a year earlier, the company said in a regulatory filing. Sales increased 3.3 per cent on-year to 21.09 trillion won, marking the highest for any first-quarter results. The company did not provide the data for net income. The operating profit was in line with the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. LG Electronics s

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Last updated : 05 April 2024 clock 06:52 AM

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LG Electronics reports 11 pc decline in Q1 profit as costs rise ...Middle East

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