Hyundai GF Holdings Records 74.5 Billion Won in Q2 Operating Profit, Maintains Last Year's Level

Revenue at 1.9988 Trillion Won
Down 4 Percent

Hyundai GF Holdings, the holding company of Hyundai Department Store Group, achieved an operating profit in the second quarter of this year that was similar to last year's level.

On August 8, Hyundai GF Holdings announced in a regulatory filing that its consolidated operating profit for the second quarter was provisionally tallied at 74.5 billion won, a 0.2% increase compared to the same period last year. Revenue decreased by 4% to 1.9988 trillion won.

A Hyundai GF Holdings representative stated, "Although most subsidiaries achieved solid results, the prolonged downturn in the construction market led to weak performance at Hyundai Livart, resulting in a slight decrease in second-quarter revenue." The representative added, "As for operating profit, major subsidiaries posted stable results, allowing the company to maintain last year's level."

Hyundai GF Holdings owns and manages shares in 27 subsidiaries within the Hyundai Department Store Group.