[Asia Economy Reporter Hwang Yoon-joo] LG Hausys announced that its consolidated operating profit for the third quarter of this year reached 28.1 billion KRW, a 13% increase compared to the same period last year. During the same period, sales decreased by 2.2% to 770.9 billion KRW, while net profit surged by 345.2% to 53.6 billion KRW.
Compared to the previous quarter, operating profit increased by 113%, sales by 7.1%, and net profit by 2261.4%.
Regarding the third quarter performance, LG Hausys explained, "Although sales slightly declined year-on-year due to reduced overseas sales caused by the prolonged COVID-19 pandemic, operating profit increased through profitability-focused business activities, including expanded sales of premium products such as high-performance windows and insulation materials."
They added, "In the fourth quarter, we will minimize uncertainties caused by COVID-19 and achieve growth accompanied by profits by diversifying domestic interior distribution channels and continuing to expand sales of premium building materials."
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