SEOUL: LG Innotek Co. announced on Wednesday a significant decline in its third-quarter net profit, which fell 18.7 percent to 105 billion won (US$75.9 million) compared to the previous year. According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the quarter stood at 130.4 billion won, down from 183.4 billion won a year earlier. Despite the drop in profit, LG Innotek experienced a 19.3 percent increase in sales, reaching 5.68 trillion won. The latest operating profit figures were 47.4 percent lower than the average estimate provided by Yonhap Infomax, the financial data division of Yonhap News Agency. However, the estimate for net profit was not provided in the survey.
