[Market Focus] Q1 Operating Profit Up 29.8%... HDC Hyundai Development Company on the Rise

The stock price of HDC Hyundai Development Company is on the rise after the company reported a roughly 30% increase in operating profit for the first quarter of this year compared to the same period last year.

As of 9:24 a.m. on April 24, HDC Hyundai Development Company was trading at 23,250 won, up 1,000 won (4.49%) from the previous trading day.

On this day, HDC Hyundai Development Company announced that its consolidated operating profit for the first quarter of this year was 54 billion won, a 29.8% increase compared to the same period last year.

This performance was supported by the inclusion of revenue from the Seoul One I-Park supplied in Wolgye-dong, Nowon-gu, Seoul, as well as increased profits in the company's own housing business division, such as the completion of Suwon I-Park City Complex 10.

The company is also expected to improve profitability as the proportion of its own housing business division increases this year.