January 24, 2014 10:45
LG Display posted an annual operating profit of W1 trillion in 2013 for the first time in three years (US$1=W1,076). The company on Thursday said 2013 sales totaled W27.33 trillion, while operating profit came in at W1.16 trillion.
Although sales were down 8.1 percent compared to the record W29.43 trillion achieved in 2012, operating profit rose 28 percent.
A company spokesman said, "Performance improved due to steady demand from TV customers, while high value-added small and mid-sized panel sales expanded."
LG Display posted a W1.31 trillion operating profit in 2010, but saw an operating loss of more than W700 billion in 2011. The company's operating profit rebounded to W912.4 billion last year.
Although annual earnings were sound, fourth-quarter performance was lackluster. Operating profit for the three-month period fell 36 percent compared to the previous quarter to W257 billion.
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