LG set to report an almost 10% increase in revenue to start 2017

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Despite the best wishes of many 2017 is turning out to be more of a comedy of errors than anything else – except for LG.

The South Korean electronics manufacturer is set to report a 9.7% increase in revenue year-on-year according to a preliminary earnings results for quarter one of 2017.

This 9.7% increase amounts to 14.7 trillion South Korean won (R177 billion) but the real story is how much the firm’s operating profit improved year-on-year.

During quarter one 2016 LG reported an operating profit of 505.2 billion won this year that figure is up 82.4% to 921.5 billion won.

It’s unclear how LG turned its operating profit around at this stage as the final earnings report including net profit and details per division will only be released later this month.

Brendyn Lotz

Brendyn Lotz

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.