Continuing High Profits

 

LG Electronics announced on Jan. 28 that it recorded 59.408 trillion won (US$54.465 billion) in sales and 1.8286 trillion won (US$1.6765 billion) in operating profits last year, including numbers from related subsidiary companies.

LG Electronics explained, “Sales increased by 4 percent from a year ago and operating profits by 46 percent with successful growth in the TV and cellphone businesses.”

Although there are some different standards in calculating operating profits, it is the highest record in five years since 2009, when it recorded 2.8855 trillion won (US$2.6377 billion).

Last year's sales were estimated to be 59.408 trillion won (US$54.426 billion), which increased by 4 percent from the previous year. Sales in 2010 were 55.3239 trillion won (US$50.5544 billion), 54.9992 trillion won (US$50.3864 billion) in 2011, and 53.1075 trillion won (US$48.6534 billion) in 2012, which shows a continuous decrease during the period. But profits increased to 56.7723 trillion won (US$51.8893 billion) in 2013.

LG Electronics reported last year's performance results, following the rule that it should announce them after the determination of the board of directors when there is a change in sales, operating profit, and net profit of more than 15 percent compared to the previous business year.

Meanwhile, LG Electronics announced that it will give cash dividends of 450 won (US$0.41) per share on preferred stock and 400 won (US$0.37) on common stock as settlement dividends last year. The total dividend amount to be paid out is 72,885,443,500 won (US$66,626,041.61).

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