LG Display marks a year of net losses due to settlement

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LG Display marks a year of net losses due to settlement

LG Display, the world’s No. 2 maker of LCD screens, said yesterday it stayed in the red for the fourth straight quarter as a one-off payment for a price-rigging settlement outweighed recovering profitability.

Net loss came to 112.3 billion won in the April-June period, shifting to negative territory from the previous year, the company said in a regulatory filing.

The quarterly figure, however, narrowed from a 129.2 billion won loss tallied in the previous three month period.

Revenue rose 14.3 percent on-year to a record 6.9 trillion won. Operating loss came to 25.5 billion won, marking the seventh consecutive quarterly operating loss.

Yonhap

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