LG Uplus nets best-ever OP '21, raises dividend ratio

[Source: LG Uplus Corp.]

South Korea’s wireless carrier LG Uplus Corp. reaped its best-ever operating profit of 979 billion won ($811 million), although slightly missing its target of 1 trillion won, on flourished contents business from 5G network.

In its regulatory filing on Friday, LG Uplus announced that its consolidated operating profit for the for the October to December period was 158.2 billion won, down 42.8 percent on quarter and 9.8 percent from a year earlier.

Sales, however, rose 3.9 percent on quarter and 2.7 percent on year to 3.6 trillion won. Net profit was 101.8 billion won, reversing from a net loss of 224.7 billion won in the previous year while losing 51.8 percent on quarter.

For the full year, operating profit was 979 billion won, up 10.5 percent from the previous year's 886.2 billion won. Sales rose 3.2 percent on year to 13.8 trillion won and net profit rose 51.5 percent to 724.2 billion won.

Shares of LG Uplus were trading up 1.79 percent to close at 12,950 won on Friday.

By division, the company's consumer wireless business sales rose 4 percent on year to 6.5 trillion won last year. The total number of wireless subscribers, including mobile network operator (MNO) and mobile communication (MNO) and mobile virtual network operator (MVNO) amounted to 18 million last year, up 8 percent on year.

IPTV sales rose 9.6 percent on year and broadband revenue 9.2 percent on year. Enterprise infrastructure division revenue went up 10.7 percent on year on the back of IDC, solution and enterprise line.

It will enhance dividend payout to more than 40 percent versus net profit from 30 percent threshold.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]