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LG REPORTS 45% RISE IN OPERATING PROFIT
LG
Electronics has reported consolidated sales of KRW 15.43 trillion (USD 13.76 billion) and an operating profit of KRW 748.8 billion (USD 667.7 million) for the third quarter of 2018. Revenues were the highest among the three quarters of this year, increasing 2.7% from the second quarter with operating income up 45% from the same period the previous year. Profitability in Home Appliances and TV products was boosted by the growth of premium models. In the mobile market the company significantly reduced its operating deficit as a direct result of its business plan and a stronger focus on mid-range products.
REORGANISATION AT HUGHES’ COMMERCIAL DIVISION
H
ughes Electrical has reorganised its commercial division with the launch of Hughes Pro, a setup involving around 50 staff responsible for the supply, installation, servicing and repair of specialist washing machines and dryers, glass and dish washers to commercial organisations. The move follows Hughes’ acquisition of Armstrong Commercial Laundry Systems earlier this year for an undisclosed sum. Hughes said it continues to invest in the Armstrong brand and the business is currently moving into larger premises at its Newbury base. The combined businesses will operate from branches in Glasgow, Leicester, Newbury, Norwich and Rochester.
SHORTCUTS Hoover has received the gold award for its AXI washing machine in the Innovation in Design category at the Designer Kitchen & Bathroom Awards. LG Electronics has announced that its President and Chief Technology Officer Dr. I.P. Park will deliver the pre-show keynote address, ‘AI for an Even Better Life’, at CES® 2019. French loudspeaker and headphone brand Focal has appointed OneAV as the UK distributor of its flush-mount speaker range for the UK custom install channel. Beko parent Arçelik has been listed in the Dow Jones Sustainability Index (DJSI) in the Emerging Markets Category for the second consecutive year. Tefal has launched a major marketing campaign supporting its ActiFry Low-Oil Fryers. The activity runs until 16th December 2018 and includes multi-level digital media underpinned with a range of in-store point-of-sale material and bespoke packaging. Hama UK has announced a distribution partnership with Swiss speaker manufacturer Geneva Lab. Air treatment specialist Meaco has announced that its donations to the Guildford-based David Shepherd Wildlife Foundation (DSWF) have reached £22,000 in the space of two years. Meaco makes a donation to the DSWF to support the care of orphaned elephants in Zambia from every sale of its top-of-the-range dehumidifier, the DD8L Zambezi.
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