GS Engineering and Construction announced on the 30th that its preliminary operating profit for the first half of the year increased by 41.8% to 232.4 billion won compared to a year ago.
GS Engineering and Construction reported that its first-half revenue was 6.259 trillion won, a decrease of 1.7% compared to the same period last year, but operating profit rose significantly.
A representative of GS Engineering and Construction noted, "The effect of settling construction costs in Maple Xi and Cheolsan Xi Heritage was significant," adding, "The completion of the Doha Metro project in Qatar was also linked to operating profit."
In the second quarter of this year, revenue and operating profit were 3.1961 trillion won and 162.1 billion won, respectively.
Looking at the second-quarter revenue by business division, the Building and Dwellings Division saw an increase of 6.9% to 2.1484 trillion won compared to the previous quarter, while the Infrastructure Division decreased by 9.9% to 311.3 billion won. The Plant Division increased by 20.1% to 340.7 billion won compared to the previous quarter (283.6 billion won).
New orders in the first half amounted to 7.8857 trillion won, achieving 55% of the new order target of 14.3 trillion won set at the beginning of the year.
In the first half, the Building and Dwellings Division secured 6.4391 trillion won in new contracts, including the redevelopment project for District 1 of Boksan (1.1392 trillion won), the redevelopment project for District 14 of Bongcheon (627.5 billion won), the multi-family housing project for District 2 of Osan Naesammi (547.8 billion won), and the redevelopment project for the promotion area of Sillim 1 (461.6 billion won).
A representative of GS Engineering and Construction noted, "We have consistently secured future opportunities in urban maintenance projects and outsourcing projects in Seoul, the metropolitan area, and major regions with high business potential," adding, "We will strengthen our foundations to ensure sustainable management moving forward."