FX.co ★ LG Electronics Q1 Net Income Rises, Operating Income Down

South Korean electronics giant, LG Electronics Ltd., announced on Thursday an increase in its first-quarter net income for the year, to 585.4 billion Korean Won, surpassing last year's figure of 546.5 billion won, calculated via K-IFRS basis.

The company's pre-tax net income also experienced growth, rising to 978.4 billion won from the previous year's figures of 933.7 billion won.

However, the firm's operating income witnessed a decrease, falling from the prior year's 1.50 billion won to this year's 1.34 billion won.

Gross Profit for the company stood at 5.39 billion won, which is higher than the last year's figure of 5.17 billion won.

On the sales front, LG Electronics reported growth as well, with sales reaching 21.10 billion won this year, compared to 20.42 billion won from the last year.

The company noted that in South Korea, the shares of LG Electronics closed at 90,600 won on Thursday, marking a decrease of 1.74 percent.