Kolon Global said on the 14th that operating profit under consolidation for the first quarter was 22.0 billion won, up 129.35% from a year earlier. During the same period, revenue fell 1.99% to 631.2 billion won, and net profit turned to a surplus at 10.9 billion won.
The improvement in profitability stemmed from selective orders focused on profitability in the construction institutional sector and the completion of sites with high cost ratios. Operating profit in the construction institutional sector rose 153% from a year earlier to 21.0 billion won.
Kolon Global succeeded in lowering the first-quarter cost ratio to 89.5%. That figure is down 1.9 percentage points from a year earlier and 7.3 percentage points from the previous quarter. New orders in the first quarter reached 404.4 billion won, up 19% from a year earlier.
The leisure and AM (asset management) institutional sector generated stable revenue. Thanks to the merger of LSI and MOD at the end of last year, revenue in this institutional sector jumped 344.5% year over year to 64.9 billion won. Operating profit turned to a surplus.
Kolon Global expects the leisure·AM institutional sector to deliver annual revenue of 120.0 billion won and operating profit of 20.0 billion won.
A company official said, "Based on the synergy between the construction institutional sector with cost competitiveness and the leisure·AM institutional sector that generates stable revenue, we plan to make this year the first year of a rebound in results and the year we begin full-fledged qualitative growth."