LG Electronics (LG) announced unaudited consolidated financial results based on IFRS (International Financial Reporting Standards) for the three-month period ending June 30, 2011. The turnaround in net profit reflected steady improvements in its businesses and successful cost-reduction efforts, in line with analysts’ estimates. LG posted consolidated second quarter 2011 revenues of KRW 14.4 trillion ($13.3 billion) a 9.3 per cent increase from the previous quarter.