LG forecast to see record sales in Q4 on strong home appliance biz

2 weeks ago 18

LG Electronics has estimated that its fourth-quarter income reached a grounds quarterly high, seemingly backed by its beardown location appliance business, but the operating nett is apt to sink

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LG Electronics | Q4 Results | corporate earnings

IANS  |  Seoul 

LG Electronics has estimated that its fourth-quarter income reached a grounds quarterly high, seemingly backed by its beardown location appliance business, but the operating nett is apt to descend owed mostly to accrued logistics costs.

The institution expected to log 21 trillion won ($17.5 billion) successful income for the September-December period, up 20.7 per cent from a twelvemonth earlier, it said successful a regulatory filing.

Operating income, however, apt came successful astatine 681.6 cardinal won, down 21 per cent from a twelvemonth ago.

The fourth-quarter operating nett prediction was 16.2 per cent little than the marketplace statement of 813.7 cardinal won successful a survey by Yonhap Infomax, the fiscal information steadfast of Yonhap News Agency.

Compared with the 3rd quarter, the operating nett apt precocious 26.1 per cent, with the income rising 11.8 per cent, according to the estimates.

If the preliminary results go official, the fourth-quarter income would correspond the largest-ever quarterly show successful the company's history.

On the cumulative basis, the tech institution is expected to person earned 74.72 trillion won successful income and 3.86 trillion won successful operating nett for 2021.

Analysts said robust request for household appliances, LG's mainstay business, apt helped thrust up the revenue.

"Such demand, particularly for the premium lineup successful the North America market, appears to not person peaked yet, meaning that we could perchance expect further momentum successful the archetypal fractional of adjacent year," Kim Ji-san, an expert astatine Kiwoom Securitis Co., said.

Analysts predicted a replacement rhythm for electrical appliance items among US consumers successful the archetypal fractional of this year.

--IANS

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(Only the header and representation of this study whitethorn person been reworked by the Business Standard staff; the remainder of the contented is auto-generated from a syndicated feed.)

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