LG HelloVision reported sales of 313.5 billion won, operating profit of 7.1 billion won, and net profit of 3 billion won in the first quarter of this year, the company said on the 8th. Sales and operating profit increased by 46.3 billion won (17.3%) and 3 billion won (73.1%), respectively, compared to the same period last year.
The reason for the increase in sales is attributed to the growth of the educational institution's device supply project and the Hello Rental business. By institutional sector, broadcasting achieved 122.9 billion won, telecommunications reached 34.1 billion won, and mobile virtual network operator (MVNO) garnered 38.9 billion won.
The regional-based business, including media and business-to-business (B2B), recorded 41.1 billion won, while rental reached 32.1 billion won. The educational business increased to 44.5 billion won, reflecting the previous year's contract for the Seoul Education Office's device supply project, which was accounted for in the first quarter.
Im Min-hyung, Chief Financial Officer/Chief Revenue Officer of LG HelloVision, noted, “The first quarter's performance improved due to the impact of new business growth. We will continue to drive additional growth with a focus on qualitative growth in the home business and new businesses.”