GS Engineering & Construction disclosed on the 30th that in the first quarter it posted revenue of 2.4005 trillion won and operating profit of 73.5 billion won.
Revenue fell 21.6% from the same period a year earlier (3.0629 trillion won), while operating profit rose 4.4% from the same period a year earlier (70.4 billion won).
By business division, the architecture and dwellings division recorded the highest revenue at 1.4213 trillion won. It was followed by ▲ the infrastructure division with 326.4 billion won ▲ and the plant division with 253.6 billion won. As housing supply shrank amid the recent downturn in construction and real estate, revenue at the architecture and dwellings division fell 29.3% from the same period a year earlier (2.0096 trillion won).
New orders in the first quarter totaled 2.6025 trillion won. In the architecture and dwellings division, the company won the Osan Yangsan District 4 multi-family dwellings project (497.1 billion won) and the Geoye Saemaul dwellings redevelopment and maintenance project (326.3 billion won), among others, while Danwood, a Poland-based modular specialist subsidiary, booked new orders of 119.1 billion won.
A GS Engineering & Construction official said, "In a situation where uncertain internal and external conditions continue, we will solidify the foundation for sustainable management by focusing on securing profitability centered on substance and future growth engines based on the capabilities and successful business experience we have built up over a long period."