LGE Post Record Profits in 2004
LG Electronics broke through the 1 trillion Won mark in operating profits for the first time last year, posting the biggest profits the company has enjoyed since it was founded in 1958. But the plunge in the value of the dollar meant that LGE's fourth-quarter operating profits fell by 70 percent compared to the previous quarter, and with the dollar predicted to continue its slide, profits are expected to take a hit in 2005.
LGE said Tuesday that it recorded $25.85 billion dollars in sales last year, with operating profits of$1.21 billion and $1.47 billion in net profits.
LGE's 2004 profits have been attributed to improved profits in its information and communication sector.
LGE has set for itself a sales target of between $27 to 29 billion this year, a 20 percent increase over last year. The company also plans to invest $3.4 billion, a 40 percent boost over 2004, to strengthen its R&D capacities and expand facilities.
LGE said Tuesday that it recorded $25.85 billion dollars in sales last year, with operating profits of$1.21 billion and $1.47 billion in net profits.
LGE's 2004 profits have been attributed to improved profits in its information and communication sector.
LGE has set for itself a sales target of between $27 to 29 billion this year, a 20 percent increase over last year. The company also plans to invest $3.4 billion, a 40 percent boost over 2004, to strengthen its R&D capacities and expand facilities.
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