LG International’s Q2 operating profit to surge 48%: report

[THE INVESTOR] LG International, a trading arm of LG Group, will post improved second quarter earnings, local brokerage firm NH Investment & Securities said on June 22 while maintaining its “buy” rating.

According to the securities firm, LG International’s Q2 operating profit is projected to jump 48 percent on year to 44.9 billion won (US$38.8 million). 

“The market condition for LG International’s resource development business is improving as copper and coal prices have remained at the previous level and oil prices are rebounding,” said Kim Dong-yang, analyst at NH Investment & Securities.

The analyst expected the company to retain earnings momentum during the second half of 2016, buoyed by revenue expansion from LG International’s logistics business and organizing division which is in charge of planning and developing projects.

Shares of LG International traded down 0.53 percent at 38,550 won as of noon.

By Park Han-na (hnpark@heraldcorp.com)