LS Marine Solution’s Q3 OP up 77.1% year-on-year

LS Marine Solution CI

LS Marine Solution Co. estimated an operating profit of 7.2 billion won ($5.3 million) for the third quarter of 2024, with a 77.1 percent year-on-year increase. Sales surged 86 percent year on year to hit the 37.4 billion won mark. The company said the growth was thanks to the expansion of its submarine power cable business and improved efficiency in asset management, including its fleet of ships.

The provider of marine cable services recently acquired LS Buildwin Co., a company specialized in constructing land cable systems to cover both subsea and onshore projects.