LG optimistic about second-quarter profits

South Korean technology giant LG Electronics is predicting its second-quarter operating profit will hit a two-year high.

In a statement, the company said that profit between April and June would likely reach 585 billion Korean won (£390 million).

The result would be the highest quarterly profit since the 610bn won reached in the second quarter of 2014.

Analysts speculated that these profits were likely driven by sales of premium appliances and the unusually warm weather in certain markets boosting demand for air conditioners.

They also said that its TV division may have seen a boost thanks to major sporting events such as the 2016 Uefa European Championship, which increased demand for larger TVs.

However, some analysts were sceptical as the appliances business enters a seasonally weaker period for sales.

The final results are scheduled for late July.