GS Corp. said on the 10th that, on a consolidation basis in the fourth quarter last year, it posted revenue of 6.4873 trillion won, operating profit of 767.2 billion won, and net profit of 224.5 billion won.
Revenue and operating profit rose 1.43% and 23.34%, respectively, from a year earlier. Net profit during the same period also jumped 205.86%.
Full-year revenue last year came to 25.1841 trillion won, down 0.26% from a year earlier, and operating profit was 2.9271 trillion won, down 4.88%. Net profit during the same period was 1.0121 trillion won, up 17.21%.
The consolidation basis results improved as the refining institutional sector was solid thanks to improved refining margins last year.
The petrochemical institutional sector recorded weak results as product margins continued to be sluggish due to oversupply and weakening global demand. Profitability at power generation subsidiaries also declined overall following a drop in the system marginal price (SMP).
A GS official said, "This year, with operating conditions in the petrochemical and power generation institutional sectors remaining sluggish, how much the refining institutional sector can offset that is likely to be the key to results."