‘LG’s operating profit to top W3tr in 2018’

‘LG’s operating profit to top W3tr in 2018’

LG Electronics’ annual operating profit in 2018 will hike 28 percent from last year to 3.16 trillion won, said Hana Financial Investment on Oct. 26 maintaining a “buy” recommendation.

Despite a challenging environment, new growth categories of home appliance sales were strong and it managed to improve profits through premium TVs. For further growth in profits next year, though, loss-making sectors need to rebound. Its vehicle components unit will be able to turn to black next year, reflecting earnings from ZKW. By the year-end the unit’s backlog order amount will reach 40 trillion won, said analyst Kim Rok-ho.

He however lowered the operating profit estimates for both this year and next by 2 percent and the target price to 108,000 won (US$94.85) from 115,000 won.

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