LG Electronics' H&A division, which is responsible for home appliances, achieved its first ever double-digit operating profit-to-sales ratio in the first quarter of this year.
LG’s smartphone-making MC division also greatly reduced the size of its operating loss to 200 million won in the first quarter after suffering a loss of more than 1.2 trillion won last year.
LG Electronics announced on April 27 that it recorded consolidated sales of 14.65 trillion won and operating profit of 921.5 billion won in the January-March period of this year. Sales increased by about 10 percent year on year. The first-quarter operating profit was the highest since the second quarter of 2009.
Its TV and home appliance business both performed well. The H&A division chalked up sales of 4.63 trillion won and operating profit of 520.8 billion won, with its operating profit-to-sales ratio estimated at 11.2 percent.
It is rare for any large home electronics company to achieve a double-digit operating profit-to-sales ratio.