LG Display, the world’s second-largest flat panel display maker, on Wednesday said its net profit more than trebled in the second quarter on strong demand for large flat-screen TVs and tight supplies of computer monitor panels.

Encouraged by the strong results, the South Korean company announced additional spending plans worth Won1,361bn ($1.4bn) to build a sixth-generation facility designed to produce notebook PC and monitor panels. The company expects the new facility to start mass production in the second quarter of 2009.