LG Household & Health Care reports record first-half profit

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LG Household & Health Care reports record first-half profit

LG Household and Health Care said yesterday its operating profit was a record in the first half of the year.

The company said operating profit grew 13.2 percent year-on-year to 266 billion won ($238 million). Revenue during the period exceeded 2 trillion won for the first time. Revenue grew 10 percent year-on-year to 2.1 trillion won. Net profit surged 31.1 percent to 188.9 billion won.

All businesses ranging from household goods to shampoo, cosmetics and even beverages saw sales improve. Performance of household goods in the second quarter was strong as the company increases its local market share by 1 percentage point to 34.4 percent.

Aggressive expansion in Japan’s market also helped boost sales 15.6 percent to 331.2 billion won and operating profit by 24.1 percent.

This has contributed to 9.6 percent year-on-year growth of sales to 1.8 trillion won and the 14.4 percent expansion of its operating profit to 120 billion won. Net profit jumped 12.2 percent to 85.7 billion won.

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