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LG air-con division reports 8% rise in Q4 sales

February 17, 2014

ArabianBusiness.com Staff



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The LG Air Conditioning & Energy Solutions Company has reported sales of $677.3mn (KRW 719.70 bn) for the fourth quarter of 2013, an increase of 8% from the same period in 2012.

LG said this was primarily due to growth of commercial air-conditioner system sales in overseas markets.

Full-year results for 2013 saw the company report revenues of $4.24bn (KRW 4.64tn), 8% higher than the previous year, while operating profit was $255.7mn (KRW 279.50bn) over the 12 months.

"Demand for commercial air conditioners with high-energy efficiency and inverter-type residential units is expected to help drive further profitability improvements for LG in 2014," the company said in a statement.

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Source: Construction Week (United Arab Emirates)


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