HDC Hyundai Development Company Reports Q2 Operating Profit of 104 Billion KRW, Down 28.8% Year-on-Year

[Asia Economy Reporter Ryu Tae-min] HDC Hyundai Development Company announced on the 28th that it recorded a separate basis sales of 809.2 billion KRW and an operating profit of 104 billion KRW in the second quarter of this year. Sales fell 15.1% compared to the same period last year, and operating profit decreased by 28.8%. The provisional operating profit margin on a separate basis was calculated at 12.9%.

In the second quarter of this year, HDC Hyundai Development explained that its own projects such as Daejeon I-Park City, Yeongtong I-Park Castle Complex 3, and City OCELE Complexes 1 and 3 influenced the performance. Major orders included Uiwang Chopyeong Knowledge Industry Center, Cheongna Officetel, and Chuncheon Samcheon-dong new construction.

A representative of HDC Hyundai Development said, “Although sales slightly decreased compared to the same period last year, we recorded a 12.8% operating profit margin due to the impact of our own project performance,” and added, “In the second half of this year, we will successfully promote projects such as the Gongneung Station area development project and expand as a unique developer.”