Seoul:LG Energy Solution Ltd., a major player in the global rechargeable battery market, has announced an estimated third-quarter operating profit of 756 billion won (approximately US$564.2 million), marking a 25.7 percent increase compared to the same period last year.
According to Yonhap News Agency, the company's sales surged by 59 percent, reaching 9.64 trillion won. However, details regarding LGES' net profit have not been disclosed.
The reported operating profit significantly exceeded expectations, being 122.8 percent higher than the average estimate from a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. LG Energy Solution is anticipated to publish its final earnings report in the near future.