Published on January 9th, 2019 | by The GC Team0
LG Q4 operating profit falls 80%
LG Electronics has reported that operating profit for the fourth quarter of 2018 fell 80% on same quarter the previous year on revenues 7% weaker than a year ago.
In its preliminary earnings release, the company reported consolidated revenues of nearly KRW 15.8 trillion with an operating profit of KRW 75.3 billion.
Total annual sales reached almost KRW 61.3 trillion, surpassing 60 trillion won for the second year in a row, with operating profit of KRW 2.7 trillion expected to be 9.5% higher than the previous year.
The company didn’t disclose details of its fourth quarter operations – its full results will be announced at the end of the month.