LG announces second-quarter 2020 financial results – ZAWYA

SourceZawya
SectorFinancial Markets
CountryUnited Arab Emirates

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...read more...