HDC Hyundai Development Company Reports Q3 Operating Profit of 47.5 Billion KRW, Down 23% Year-on-Year

HDC Hyundai Development Company announced on the 25th that its consolidated operating profit for the third quarter of this year was 47.5 billion KRW, a 23.5% decrease compared to the same period last year.

During the same period, sales increased by 5.4% to 1.0886 trillion KRW. Net profit for the period decreased by 47.3% to 32.7 billion KRW.

HDC Hyundai Development Company stated, "The sales proportion of major self-developed housing projects such as Gagyeong 6 Complex in Cheongju, Chungbuk has expanded, and in the fourth quarter, the completion of Suwon I-Park City 10 Complex is expected to improve profitability. We anticipate smoothly achieving the guidance (performance forecast) presented at the beginning of the year."

They added, "By the end of the year, we will focus on increasing cash assets without increasing borrowings, steadily reducing contingent liabilities, and continuously managing financial soundness indicators to enhance market trust."