APR

Asiatic Public Relations Network (Pvt.) Ltd. Karachi – Lahore – Islamabad


Archive for the ‘Press Releases’ Category

LG Electronics Announces 2018 Financial Results

Tuesday, February 5th, 2019

Highest Annual Profit for Home Appliance and Home Entertainment Businesses in LG History

Karachi / SEOUL, Feb, 05 2019 — LG Electronics Inc. (LG) announced record full-year revenues of KRW 61.3 trillion (USD 54.4 billion) in 2018, exceeding sales of 60 trillion won for the second year in a row. Full-year profit of KRW 2.70 trillion (USD 2.40 billion) increased nearly 10 percent from 2017 reflecting record profitability from appliances and home entertainment products.

Fourth-quarter 2018 revenues of KRW 15.77 trillion (USD 13.99 billion) were higher than the third quarter but 7 percent lower than the last quarter of 2017 primarily due to lower sales of mobile products. As a result, fourth-quarter operating income declined to KRW 75.7 billion (USD 67.1 million).

The LG Home Appliance & Air Solution Company reported full-year 2018 revenues of KRW 19.36 trillion (USD 17.17 billion), an increase of nearly 5 percent from the previous year, generating a profit of KRW 1.52 trillion (USD 1.35 billion), the highest in company history. Fourth-quarter revenues of 4.33 trillion (USD 3.84 billion) increased more than 3 percent from the same period last year with sales in Asia and Europe holding steady despite exchange rate challenges in Central and South America and political uncertainty in the Middle East. LG’s strongest performing unit in 2018 is expected to again lead the company this year with strong demand for premium products and consistent growth in South Korea while working to mitigate international trade and exchange rate risks overseas.

The LG Home Entertainment Company recorded full-year revenues of KRW 16.21 trillion (USD 14.37 billion) with a record-high profit of KRW 1.52 trillion (USD 1.35 billion) thanks to the strengths of LG’s premium product lineup. Fourth-quarter 2018 sales of KRW 4.56 trillion (USD 4.04 billion) were 6 percent lower from the previous year but 23 percent higher than the previous quarter due in large part to strong seasonal demand. Going forward, LG intends to grow both revenue and operating profit by focusing on increasing sales of premium OLED TVs and large-screen Ultra HD TVs.

The LG Mobile Communications Company reported 2018 revenues of KRW 7.98 trillion (USD 7.08 billion) with sales in the fourth quarter totaling KRW 1.71 trillion (USD 1.51 billion), a decrease of 16 percent from the third quarter. Although the full-year operating loss increased to KRW 790.1 billion (USD 700.65 million), the mobile division’s business structure showed improvement as a result of better material cost controls and overhead efficiencies based on the company’s platform modularization strategy. In 2019, LG’s mobile division will push 5G products and smartphones featuring different form factors while focusing on key markets where the LG brand remains strong.

The LG Vehicle Components Company reported solid full-year 2018 revenues of KRW 4.29 trillion (USD 3.80 billion), a 28 percent increase from 2017. Quarterly revenues of KRW 1.4 trillion (USD 1.24 billion), the highest performing quarter in the division’s history, were 71 percent higher than the same period last year and nearly 20 percent more than the third quarter largely due to new infotainment orders and strong performance from the ZKW business in Europe. Uncertainties in the vehicle component market related primarily to international trade issues are expected to contribute to flatter growth in the industry in the months ahead.

The LG Business-to-Business Company, recorded full-year 2018 revenues of KRW 2.41 trillion (USD 2.13 billion) with profit of KRW 167.8 billion (USD 148.8 million). The business unit recorded revenues of KRW 597.8 billion (USD 530.1 million) in the fourth quarter – down 11 percent from the same period the year before while up 4 percent from the previous quarter. Fourth-quarter operating profit of KRW 14.9 billion (USD 13.2 million) was impacted by increased investments, the effects of import tariffs and the continuing price depreciation of solar panels, which offset cost improvements. Despite this, LG plans to increase profitability in the business unit by diversifying target markets for its solar business, maximizing the operation of its U.S. solar factory and targeting new growth areas for its information display business.

2018 4Q Exchange Rates Explained

LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending December 31, 2018. Amounts in Korean won (KRW) are translated into U.S. dollars (USD) at the average rate of the three-month period of the corresponding quarter — KRW 1,127.66 per USD.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Emirates celebrates 20 years of operations in Lahore and Islamabad

Tuesday, February 12th, 2019

Karachi / DUBAI, February 12, 2019 – Emirates has marked 20 years of successful operations in Lahore and Islamabad, two of Pakistan’s most populous cities. The award-winning airline has recorded solid year-on-year growth in Lahore and Islamabad over the years, carrying more than 8.4 million passengers on both routes in the last two decades.

DSC_7677 (NXPowerLite Copy)

Emirates’ hub, Dubai, has emerged as the most popular destination for passengers traveling from Lahore and Islamabad. Religious travel to Jeddah, Medina and Baghdad was also very frequent over the years while London, New York, Manchester and Birmingham were popular among leisure and business travellers.

Jabr Al-Azeeby, Vice President Pakistan, Emirates Airline said: “We are embarking on a real milestone as we celebrate 20 years of service to Islamabad and Lahore.  Pakistan is a major market for Emirates and we take great pride in the role we play in providing global connectivity both for business and leisure passengers who are travelling from Pakistan to Dubai and beyond. We remain committed to this market and look forward to continue working closely with our industry partners in Pakistan to provide the best possible services to our customers.”

Lahore and Islamabad has also proven to be important cargo destinations for the airline in the region having recorded over 123,962 tonnes of cargo carriage in the last five years. Key exports and imports over the years include fresh fruits and vegetables, fish, meat, machinery and equipment. The airline continues to play an important role in fuelling trade between Pakistan and the UAE, enabling local exporters and businesses to connect to both developed and emerging markets in the airline’s network of key trade and commerce hubs.

Emirates and Pakistan share a special relationship, which goes back 33 years when its first ever flight from Dubai landed in Karachi on 25th October 1985. Since then, this historic partnership has continued blossoming with Emirates currently offering services to five Pakistani cities including Karachi, Islamabad, Lahore, Peshawar and Sialkot. Following the launch of its operations in 1985 in Karachi, Emirates began service to Peshawar in 1998. In 1999, Emirates became a part of Islamabad and Lahore’s skies before the commencement of its Sialkot service in 2013. Emirates remains fully committed to all five markets in Pakistan including Karachi, Sialkot and Peshawar as they’re all a core and an integral part of the airline’s network.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

LG Electronics displays its latest portfolio of Air Solutions during Pakistan’s HVACR Expo

Wednesday, February 13th, 2019

Karachi, February 13, 2019: LG Electronics (LG) along with its local partner Iceberg Industries showcased its revolutionary Air Solution products at HVACR Expo & Conference in Karachi – Pakistan’s largest HVAC (Heating Ventilation Air Conditioning and Refrigeration) industry exhibition.

Held from 13-15 February at Karachi’s Expo Center, the yearly expo aims to improve market access through advising the government on matters of trade diplomacy and promoting Pakistan’s business image in key export markets around the world.

LG Electronics displays its latest portfolio of Air Solutions during Pakistan's HVACR Expo

Prestigious brands from a number of nations were on hand to display the potential of their products across industrial and B2B sectors. The Expo was arranged by Pakistan HVACR Society, an affiliated society of ASHRAE (American Society of Heating, Refrigerating and Air-conditioning Engineers).

In terms of participation, over 200 companies from countries including Pakistan, Germany, Turkey, China, Malaysia, UAE and Korea showcased more than 1000 of their products and services. With the latest technology on offer, local and international business communities, corporate executives and government officials attended the event and made it a resounding success.

Commenting on the occasion, Mr. Jongyoul Lee, General Manager LG Pakistan said “With HVACR Expo now in its 26th year, it is clear that this event remains an invaluable platform for buyers and sellers to this day. LG Electronics has been a participant at the Expo a number of times and we have always found it to be a great opportunity to enhance our business, in addition to fostering new relations with local and international organizations. I am pleased to say that during our showcasing of LG’s latest Air Solution products, we have received a phenomenal response from attendees. We see LG as a total HVAC and energy solution provider and look forward to enabling a wider community of businesses to experience our revolutionary technology first-hand.”

PHVACR Society was established in 1993 for the promotion of art & science of HVACR in Pakistan. The Society is a sole representative body on HVACR and was established to promote the cause of HVACR profession and industry in Pakistan. Right from its inception, Society is making all out efforts for Knowledge Dissemination and Experience Sharing.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Aman HealthCare Services organizes Emergency Medical Services Seminar at Karachi Press Club

Tuesday, February 19th, 2019

Karachi, February 19, 2019: A seminar on Emergency Medical Services was organized by Aman Healthcare Services at the Karachi Press Club today. The seminar aimed at creating wider awareness in the media community of the critical importance of emergency medical services and the role Aman has played in this area for the past 10 years. The event also included a demonstration and on the spot basic training in lifesaving skills for the participants, keeping in mind that a medical emergency can happen anywhere and in anyone’s home, and knowing basic lifesaving skills can actually save precious lives while people are waiting for an ambulance to reach.

Aman Foundation’s CEO, Mujahid Khan, GM Khaqan Sikander and Aman Health’s CEO, Shazina Masud, addressed the media, on operational and other aspects of emergency medical services, with a focus on the importance of life-saving ambulances in Karachi’s healthcare infrastructure. The speakers also highlighted the recently signed agreements with the Government of Sindh and Patients Aid Foundation, based on which the ambulance service will become free-of-cost for all citizens and the fleet will gradually be expanded to 200 lifesaving ambulances under a public private framework to cater to the entire population of Karachi.

It was pointed out that emergencies are reported every two minutes in the city on a daily basis. It is crucial that these emergencies are catered by lifesaving ambulances specifically as these have the facilities and equipment necessary to provide adequate medical attention on the spot. Paramedics present inside these ambulances are trained to gauge emergency situations and provide the right kind of attention on the spot to prevent further complications.

Another important aspect that was brought to attention was the need for establishing a single, fully integrated system which connects all hospitals and ambulances together, in order to make it easier for the citizens to get help in case of emergencies. With regards to this, the speakers lauded the Government of Sindh for having taken a step in the right direction by announcing the ‘Sindh Emergency Medical Services’ project. A similar public-private partnership already exists with the provincial government, established in 2017, whereby the two collaborate to provide free-of-cost ambulance services in Thatta and Sujawal.

Aman Health’s CEO Shazina Masud said, “The need for expanding emergency medical services in the city, and across Pakistan is urgent. As per World Health Organization standards, there should be 1 life-saving ambulance per 100,000 people, and we are far behind meeting this. Karachi needs at least 200 life-saving ambulances to cater to emergencies, and we look forward to materializing the agreement with Government of Sindh soon

Aman Health’s flagship initiative, Aman Ambulance, has deeply impacted the landscape of emergency care in Karachi. It is the first of its kind of ambulance network providing 24/7 emergency care in Sindh. The Aman Foundation’s flagship Aman Ambulance, with advanced life-saving equipment, has made over 1 million interventions to date. Lifesaving ambulances transport patients to hospitals while providing intensive emergency care en-route. The service has a fleet of 60 ambulances, 500+ trained healthcare professionals and life-saving drugs and equipment on board. It provides emergency medical interventions with an average response of 10 minutes. The service operates through a Command and Control Centre powered with real-time tracking and a wireless communications network, all part of the internationally recognized Medical Priority Dispatch System (MPDS).

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS