GS Engineering & Construction announced on the 31st that its operating profit for the third quarter of this year reached 81.8 billion KRW, a 35.9% increase compared to the same period last year.
During the same period, sales increased by 0.1% to 3.1092 trillion KRW, and net profit surged by 939.5% to 120.8 billion KRW. GS Engineering & Construction explained that "the increase in net profit is due to investment gains from housing development projects."
Cumulative sales up to the third quarter this year amounted to 9.4774 trillion KRW, with operating profit at 245.7 billion KRW.
New orders in the third quarter totaled 4.6143 trillion KRW, a 133.2% increase compared to the same period last year. Cumulative new orders reached 12.9608 trillion KRW, up 69% from the same period last year. By business division, the Architecture and Housing Business Division achieved results such as the Busan Seogeumsa Redevelopment Promotion District 5 redevelopment project (583 billion KRW) and the Seoul Songpa-gu Samhwan Garak Apartment reconstruction (460 billion KRW). The New Business Division led performance by securing the Brazil Orinhos Sewage Treatment Reuse Project (1.045 trillion KRW).
The debt ratio in the third quarter was 238.8%, down 23.7 percentage points from 262.5% at the end of the previous quarter.
A GS Engineering & Construction official stated, "Despite the challenging domestic and international business environment, we are steadily securing future growth engines for sustainable growth. In particular, based on the new vision announced in July this year, we will build a strategic business portfolio to flexibly respond to market changes and actively promote a growth foundation for the future at the same time."
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