South Korea's LIG Nex1 sees profits surge in 2020

by Jon Grevatt

South Korean firm LIG Nex1 has reported strong sales and profits for fiscal year (FY) 2020. The figures reflect continuing growth in defence spending in South Korea despite the Covid-19 pandemic.

LIG Nex1, which specialises in missiles and C4ISR technologies, said in a stock exchange filing that its revenues FY 2020 climbed year-on-year by 10% to KRW1.6 trillion (USD1.4 billion).

The company’s operating profit in FY 2020 was KRW63.7 billion: a 250% increase over the KRW18.1 billion it reported for 2019. Its EBITDA more than doubled to KRW115.3 billion.

https://www.janes.com/defence-news/news-detail/south-koreas-lig-nex1-sees-profits-surge-in-2020

South Korean firm LIG Nex1 has reported strong sales and profits for fiscal year (FY) 2020. The figu...

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