Seoul: LG Household and Health Care Co. (LG H and H) reported a net loss of 251.2 billion won (US$176.4 million) for the fourth quarter, marking a continuation of its financial struggles from the previous year.
According to Yonhap News Agency, the company revealed in a regulatory filing that it experienced an operating loss of 72.7 billion won during the October-December period, a stark contrast to the 43.4 billion won profit recorded in the same quarter the previous year. Additionally, sales declined by 8.5 percent, totaling 1.47 trillion won.
The reported operating loss exceeded average estimates by 1049.4 percent, based on a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.