LG announces second-quarter 2020 financial results – ZAWYA

LG announces second-quarter 2020 financial results – ZAWYA

LG announces second-quarter 2020 financial results Resilient company weathering storm of global public health, economic crises    DUBAI “” LG Electronics Inc. (LG) second-quarter 2020 financial results were affected significantly by the worldwide impact of the pandemic. Consolidated revenue of KRW 12.83 trillion (USD 10.51 billion) was 17.9 percent lower than the same period of 2019, while operating profit of KRW 495.4 billion (USD 405.65 million) declined 24.1 percent from last year's record second-quarter operating income. The resilient company managed its supply chain and cost structure to weather the storm of the global public health and economic crises.The LG Home Appliance & Air Solution Company reported revenues of KRW 5.16 trillion (USD 4.22 billion) in the second quarter, down 15.5 percent from the second quarter of 2019, due to the effect of softer global demand during the pandemic. Operating income of KRW 628 billion (USD 514.23 million) declined 12.5 percent year-on-year even though operating profit margin of 12.2 percent was the highest second quarter in the history of the LG H&A Company. Looking ahead, the LG H&A Company is buoyed by increasing consumer interest in healthier living.The LG Home Entertainment Company's second-quarter revenues and profitability were impacted by lockdown measures including