LG CNS H1 Operating Profit 110.6 Billion KRW... 73% Increase YoY

[Asia Economy Reporter Bu Aeri] LG CNS announced on the 17th that it recorded sales of 1.6057 trillion KRW and an operating profit of 110.6 billion KRW in the first half of this year.

Compared to the previous year, sales increased by 18% and operating profit by 73%, respectively.

Second-quarter sales reached 851.2 billion KRW, and operating profit was 56.2 billion KRW, marking the highest ever for a second quarter.

The company explained, "Financial IT, cloud, and smart logistics businesses drove the performance," adding, "The differentiated IT new technology capabilities such as artificial intelligence (AI), big data, and cloud, which have been accumulated so far, acted as the driving force."

Since the beginning of this year, LG CNS has consecutively won contracts to build MyData platforms for various financial sectors including cards, banks, and securities.

As the infrastructure of major digital transformation (DX) projects shifts to the cloud, the cloud business targeting external financial and manufacturing clients is also on the rise.

In the case of smart logistics, the company is diversifying its business beyond the existing large centers by planning to build urban logistics centers (MFC) directed by AI.

In the second half of the year, LG CNS plans to strengthen its 'CloudXper ProOps' service, which integrally operates and manages cloud infrastructure design, system optimization, and security, as well as the DCX business that provides customers with differentiated digital experiences through AI and big data analysis.

Meanwhile, LG CNS recently formed a task force (TF) related to its initial public offering (IPO) and has begun preparations for listing. The earliest possible listing date is 2023.

This content was produced with the assistance of AI translation services.