LS ELECTRIC disclosed on the 22nd that in the third quarter of this year it posted sales of 1.2163 trillion won and operating profit of 100.8 billion won. Sales rose 19.1% from a year earlier, and operating profit increased 51.7% in the same period. Net profit for the third quarter was 65.9 billion won, up 87.6% year over year.
Orders in the power business are continuing steadily. As of the end of the third quarter, the order backlog stood at about 4.1 trillion won, up 200 billion won from the previous quarter. For ultra-high-voltage transformers, new orders in the United States continued, bringing the order backlog to 1.9 trillion won.
An LS ELECTRIC official said, "Once the expansion of the second production building at the Busan business sites, the production plant for ultra-high-voltage transformers, is completed within the year, it will lead to expanded orders and sales growth next year."