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LG turns loss into profit

LG turns loss into profit

The local operation of LG Electronics has reversed a $545,000 loss for the year ended December 2008, to post an overall bottom line of $1.53 million for the 2009 financial year.

It also achieved a 77 percent revenue boost year on year, to $86.7 million.

The company’s profit before tax for the year ended 31 December 2009 was $2.4 million, in marked contrast to a $764,000 loss last year.

The company declined to comment on the results.

LG Electronics was incorporated here in June 2007 and its local distributors are Comworth, PB Technologies and Ingram Micro.


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