GS E&C’s OP up nearly 36% in Q3

GS E&C CI

South Korea’s GS Engineering & Construction (E&C) Corp. saw its third-quarter operating profit for 2024 rise nearly 36 percent from a year ago.

GS E&C announced in a disclosure on Thursday that its preliminary operating profit came to 81.8 billion won ($59.38 million) for the third quarter, up 35.95 percent from the same period a year ago. Revenue was up 0.06 percent on year to 3.11 trillion won during the July to September 2024 period. Net profit surged by 939.53 percent to 120.8 billion won.

However, the third-quarter operating profit is 4.9 percent lower than the market consensus of 86 billion won compiled by Yonhap Infomax.