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LG Electronics' 2014 net more than doubles in 2014

All News 17:33 January 28, 2015

By Kim Seung-yeon

SEOUL, Jan. 28 (Yonhap) -- LG Electronics Inc., South Korea's leading home appliance and smartphone maker, said Wednesday its net profit more than doubled in 2014 from a year earlier.

Net income reached 501.3 billion won (US$462 million) in the January-December period, compared with 222.7 billion won a year earlier, the company said in a regulatory filing.

Operating profit came to 1.82 trillion won for all of last year, up 46.4 percent from the previous year, with revenue rising 4 percent to 59 trillion won over the cited period.

The earnings disclosure came early in compliance to a local rule that requires a large firm to report changes in its results by 15 percent or over. The company will release its full earnings details on Thursday.

Shares of LG Electronics ended down 1.24 percent to 63,500 won on the main bourse on Wednesday, as opposed to a 0.47 drop on the broader KOSPI. The results were released after the closing bell.

elly@yna.co.kr
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