[Asia Economy Reporter Changhwan Lee] LG Sangsa announced on the 29th that its operating profit last year was 159.8 billion KRW, an increase of 18.5% compared to the previous year. During the same period, sales rose 7.1% to 11.2826 trillion KRW, and net profit turned positive to 361.6 billion KRW.
Operating profit in the fourth quarter of last year was 44.8 billion KRW, up 2535.3% from the same period last year. Fourth-quarter sales amounted to 3.3703 trillion KRW, a 29% increase compared to the same period last year.
The company explained that last year's sales growth was driven by the energy, palm, and logistics business sectors. In particular, the full-scale launch of the palm oil (CPO, Crude Palm Oil) trading business achieved external growth, and the logistics business showed strong performance due to expansion into external businesses.
Operating profit maintained favorable profitability by significantly increasing profits in the logistics business sector through securing cost competitiveness and stabilizing the warehouse and transportation (W&D) business.
LG Sangsa stated, "Although we recorded somewhat disappointing results due to sluggish coal market conditions and decreased trading profits last year, we successfully established a foundation for profit expansion, including the commercialization of new health and hygiene products and enhancing competitiveness in the palm business. This year, we plan to maximize market responsiveness in each business sector and focus on both quantitative and qualitative growth by enhancing business value."
Meanwhile, LG Sangsa plans to maximize the value and profits of existing assets in the energy and palm businesses this year and enter the eco-friendly sector. It will also focus on strengthening profitability in trading businesses such as industrial materials, creating new revenue sources, achieving visible results in promising areas like healthcare, and continuously striving to discover new businesses.
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