LG Household & Health Care Q1 net profit down 56 pct to 113.8 bln won

SEOUL-- LG Household & Health Care Ltd. on Wednesday reported its first-quarter net income of 113.8 billion won (US$89.2 million), down 56 percent from a year earlier.

The company said in a regulatory filing that it posted 175.6 billion won in operating profit for the quarter, compared with 370.6 billion won a year ago. Sales fell 19.2 percent to 1.64 trillion won.

The operating profit was 47.8 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Source: Yonhap News Agency