[Asia Economy Reporter Ryu Taemin] Kolon Global announced on the 5th through a preliminary earnings disclosure that its consolidated sales and operating profit for the second quarter increased by 33% and 53%, respectively, compared to the same period last year.
On the day, Kolon Global reported sales of 1.2415 trillion KRW and operating profit of 74.5 billion KRW. Net profit for the period rose by 84.6% to 48.3 billion KRW.
This strong performance appears to be the result of simultaneous growth in the three major business divisions: construction, automotive, and trading. In the construction division, sales increased by 12% compared to the same period last year due to the expansion of housing and architectural projects, and operating profit also rose by 27% thanks to favorable progress in large-scale projects and an increase in groundbreaking projects.
The order intake is also notable. New orders in the first half of the year amounted to 2.0819 trillion KRW. Major orders secured in the first half include the Daejeon Bongmyeong-dong officetel new construction project (291.4 billion KRW), Gumi Inui-dong apartment complex new construction project (207.5 billion KRW), Yeongdeok Haemaji wind power project (85 billion KRW), and Daegu Sanghwa-ro multi-level development project (107.3 billion KRW).
The automotive division also showed growth due to strong imported car sales and improved profitability. Sales increased by 36.8% year-on-year to 457.8 billion KRW. Operating profit doubled, rising 105% to 20.7 billion KRW. The increase in preference for the BMW X series led to higher new car sales, and after-sales service (A/S) performance also expanded, improving overall results.
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