"Better sign" (from LGE news release) ......
LG Reports Sales, Profits jump in 1997
LG Electronics has announced a jump in unconsolidated revenues and profits during 1997. The Asian currency turmoil made the company's goods more attractive overseas which helped it push up export sales by 49 percent.
The company said sales in 1997 were 9.24 trillion won ($5.8 billion), up 23.2 percent on the year. Operating profit increased 39.9 percent to 798.1 billion won ($498.5 million) and net profit jumped 41.3 percent to 91.6 billion won ($57.2 million).
In the export business, it said sales of high-end goods, like liquid crystal displays, CD-ROM players and air conditioners and the Chinese and CIS markets showed strength. Total exports were 5.73 trillion won ($3.8 billion) while
domestic sales were 3.51 trillion won ($2.2 billion).
For the coming year, the company said it expects sales to reach 11.0 trillion won ($6.9 billion) as exports grow stronger. They are predicted to increase 49.0 percent on the year to 8.55 trillion yen ($5.3 billion).
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This, obviously, was the reason ZE popped, last week. LGE has distanced itself from the Korean choebel pack and remains one of the strongest, profitable and, certainly, the fastest growing major, CE company in the world. Could ZE have a better majority share owner? |
