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Money News

LG Electronics says first-quarter profit up 82 percent from year earlier

FILE PHOTO - The LG logo is seen on a building roof in Minsk, Belarus, September 12, 2016. REUTERS/Vasily Fedosenko/File Photo

SEOUL (Reuters) - South Korea’s LG Electronics Inc said on Thursday its first-quarter operating profit rose 82 percent from a year earlier to its highest in nearly eight years on the back of healthy sales for its appliances and television businesses.

LG said January-March profit was 922 billion won ($816 million) in line with its estimate earlier in April. Revenue rose 9.7 percent to 14.7 trillion won, also in line with the company’s previous estimate.

($1 = 1,129.4000 won)

Reporting by Joyce Lee; Writing by Se Young Lee; Editing by Richard Pullin

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