Operating profit in the first half of this year at Taeyoung E&C, which is undergoing a workout, increased by more than 20% from the same period last year.
According to the Financial Supervisory Service electronic disclosure on the 18th, Taeyoung E&C's first-half operating profit on a consolidation basis was 54.9 billion won. That is up 20% (9.5 billion won) from 45.3 billion won a year earlier. Revenue in the same period fell to 674.9 billion won from 1.1992 trillion won, but operating profit increased through measures such as reducing the cost ratio.
As of the end of the first half, total liabilities were about 3.1825 trillion won, down about 301.7 billion won from about 3.4842 trillion won at the end of last year. The debt ratio also fell 32 percentage points to 510% from 542%.
Second-quarter revenue was 320 billion won, down 43% from 563.8 billion won in the same period last year. Quarterly operating profit for the same period rose 24.3% (7.2 billion won) to 37.1 billion won from 29.8 billion won last year.
A Taeyoung E&C official said, "With public-order wins expanding, revenue is gradually improving, and we expect profitability to recover as new business sites reflecting higher costs break ground and existing business sites reach completion."