LG Electronics reports 13.5% rise in Q3 operating profit on strong appliance sales

LG Electronics filed figures showing a third-quarter operating profit of 781.8 billion won, marking a 13.5% increase compared with the previous year. Revenue rose 8.9% to reach 23.82 trillion won during the July-September period. The South Korean group attributed the gain to solid performance in its home-appliance business, which along with vehicle components acted as cash-cow units, and noted a notable improvement in TV profitability.

Despite the upside, the profit figure was 17% below the 941.7 billion-won market consensus compiled by Yonhap Infomax. LG cited resilience in core markets despite challenges such as the Middle-East conflict. Net profit details were not yet released.