LG Electronics' Q3 profit rises on home appliances, auto parts

LG Electronics reported solid earnings growth in the third quarter, driven largely by strong performance in its home appliance and vehicle component businesses, the company said Wednesday in a regulatory filing. The electronics maker posted an operating profit of 781.8 billion won ($583 million) for the July-September period, up 13.5 percent from a year earlier. Sales rose 8.9 percent to 23.82 trillion won. The company attributed the growth to robust sales of its core businesses and continued expansion of business-to-business (B2B) operations. Its home appliance and vehicle solutions businesses maintained solid profitability, while its TV business also improved profitability from a year earlier. For the first nine months, LG Electronics’ sales reached a record 71.38 trillion won, up 9.2 percent from a year earlier. Operating profit also hit a record 4.03 trillion won, up 55.9 percent. Despite unfavorable external business conditions, including conflicts in the Middle East, the company said it continued to grow sales by maintaining its strong market positions in its core businesses and