(RTTNews) – South Korea’s LG Electronics Inc. (LGEPF.OB, LGEJY.OB, LGEIY.OB, LGEAF.OB) reported Thursday that its first-quarter net income increased to 1.17 trillion Korean Won from last year’s 1.09 trillion won.
Pre-tax net income grew to 1.49 trillion won from last year’s 1.39 trillion won.
Operating income improved to 1.52 trillion won from prior year’s 1.09 trillion won.
Sales were 18.81 trillion won, 27.7 percent higher than 14.73 trillion won a year ago.
Looking ahead for the second quarter, the company expects sales to grow significantly year-on-year affected by strong sales in appliance and TV on the back of the recovering demand in the global market, and increased sales in the vehicle component business.
Operating profit is expected to improve year-on-year.
In South Korea, LG Electronics shares were trading at 162,000 won, down 1.22 percent.