(ATTN: RECASTS headline, lead; ADDS details throughout, photo, byline)
By Kim Han-joo
SEOUL, Oct. 22 (Yonhap) -- LG Display Co. said Thursday its third-quarter net profit surged as a stronger South Korean won against the U.S. dollar sharply improved foreign currency translation gains.
Net income for the July-September period came to 755.6 billion won (US$571.1 million), up 60,496.2 percent from a year earlier, the affiliate of South Korean electronics giant LG Electronics Inc., said in a regulatory filing.
The company, one of the world's leading display manufacturers, posted an operating profit of 250.6 billion won for the quarter, down 42 percent from 431 billion won a year earlier. Revenue fell 9.8 percent on-year to 6.27 trillion won.
Compared with the previous quarter, however, the company swung to black from an operating loss of 107.7 billion won.
"Amid continued uncertainty in the external business environment, including fluctuations in exchange rates and component prices, we focused on strengthening our business competitiveness and improving operational efficiency in the third quarter," Kim Sung-hyun, the company's chief financial officer, said.
The operating profit was 40.9 percent higher than the average estimate in a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. An estimate for net profit was not available.
(END)