LG Home Shopping sees profit jump 748%

LG Home Shopping predicts revenue, profits to soar following goverment laws easing cable broadcasting restrictions.
LG Home Shopping, Korea's largest cable TV home shopping network, expects to double its subscriber base by the end of this year and boost revenue to $540 million from $285 million in 1999, following new government regulations allowing the company to broadcast to more homes.
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The Seoul-based company, which has 60% of Korea's TV home shopping market, predicts its net profit will triple to $30 million in 2000 from $9.2 million in 1999. In 2001 net profit will rise 87% to $56 million and in 2002 will rise 39% to $78 million, the company predicts. It forecasts revenue will jump to $1.1 billion in 2002, boosted by an increase in subscribers toáeight...

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