The South Korean manufacturer, LG Electronics is set to report a surge in profit and year-on-year sales in its Q1 2017 results, the company said in a preliminary earnings statement.
LG which produces a wide range of consumer electronics, forecast a 9.7 per cent year-on-year increase in sales for the January to March period, with profit growth of 82.4 per cent compared with Q1 2016.
Sales across its business were estimated to reach KRW14.7 trillion ($12.9 billion) with profit of KRW921.5 billion for the quarter.
Details on the performance of LG’s individual divisions are unavailable until it announces its final report on the quarter. However, during 2016 its mobile communications division accounted for 23 per cent of the company’s sales.
Last year its largest business units by value of sales were its home entertainment and home appliance divisions, which each contributed around a third of total sales revenue.
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