South Korean builder GS Engineering and Construction reported a record-breaking quarterly performance in the third quarter, according to the firm.
The company said it had recorded 9.7 trillion won ($8.4 billion) in sales, 843 billion won in operating profit and 657 billion won in pretax profit between July and September.
Those figures are the highest in the history of the company, according to GS E&C.
The company said its sales had increased 16.3 percent year-on-year, while its operating profit had jumped 290.3 percent.
With better cash flow in the third quarter, the company said its debts were 1.5 trillion won lower compared to the end of last year, while its assets were up 27 billion won. This led to a debt ratio of 249.6 percent as of the third quarter.
“By obtaining orders based on profitability as well as continually investing in projects that we are confident about, we will strive to achieve sustainable growth in the coming years,” said GS E&C in a statement.
According to the company, its sales have hit the 10 trillion won mark for three consecutive years and generated profits for four consecutive years.
To maintain sustainable business growth, GS E&C said it would expand investment in Vietnam and Indonesia and would also push forward with domestic road and railway construction projects.
By Kim Da-sol (
ddd@heraldcorp.com)
