LG Display Co., Ltd. (LPL), a South Korean electronics company, on Thursday recorded a net profit for the second quarter, reflecting improved foreign exchange gains and profit from the sale of a stake in its Guangzhou LCD plant.
For the three-month period, the company registered a net profit of KRW 890.8 billion, compared with a net loss of KRW 471 billion in the same period last year.
Operating loss stood at KRW 116 billion as against the prior year's loss of KRW 94 billion.
Revenue was KRW 5.587 trillion, down from KRW 6.708 trillion in the previous year.
Looking ahead, Sung Hyun Kim, CFO of LG Display, said: "In the second half of the year, we expect a sharp rebound in earnings with expanded performance across our OLED business, and we will continue to improve cost innovation and operational efficiency to strengthen our stable profit structure. We are also improving our financial structure, including the early repayment of loans and reduction of borrowing, at a faster pace than originally planned, so we will show meaningful results in both earnings and financial structure this year."
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