Samsung announced today that it is projecting a growth in sales for the present quarter. The South Korean company expects to see consolidated sales of $24.46 to $26 billion for the quarter. This is up from $22.96 billion worth of sales in the year ago quarter. Operating profit is forecasted to total $1.74 to $2.05 billion Ė about on target with the previous yearís $1.89 billion.

Although the company gave no vindication for the anticipated performance, its shares rose 5.5%. Samsungís forecasts are said to include the performance of its global subsidiaries, minus financial business. The company did not disclose its estimated quarterly consolidated net profit figure, nor its expected earnings on a parent basis.

Samsung posted a consolidated net profit of $4.65 billion last year, a steep sag from 2007ís $6.25 billion. The recently ended quarterís results will be released July 24.