Seoul:LG Household & Healthcare Co. (H&H) announced a notable decrease in its third-quarter net profit, which fell to 12.8 billion won (US$9.5 million), marking a 45.3 percent decline from the previous year.
According to Yonhap News Agency, the company's operating income for the July-September period witnessed a substantial increase of 52.4 percent, reaching 70.4 billion won. However, sales experienced a slight drop of 0.2 percent, totaling 1.57 trillion won.
The reported earnings did not meet market expectations. Analysts had projected an average net profit of 16 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.