Business · Companies · 2 hrs ago
GS Engineering & Construction's third-quarter profit falls 35.7% year on year
GS Engineering & Construction reported 95.5 billion won in operating profit for the third quarter.
The South Korean construction company’s profit was 35.7% lower than a year earlier, though 4.6% higher than in the previous quarter.
Revenue fell 14.5% year on year to 3.208 trillion won, while net profit dropped 39.8% to 73.4 billion won.
Lower housing and building revenue reflected a weaker property market and fewer housing supplies in recent years.
Plant revenue, by contrast, rose 34.6% as major projects in South Korea and overseas got under way.
The company said it had sold more than 13,000 homes through the end of the quarter, and expects revenue to turn upward as those projects progress.
It also recorded 3.9584 trillion won in new orders during the quarter.
GS Engineering & Construction reported third-quarter operating profit of 95.5 billion won, down 35.7% from a year earlier.
Revenue fell 14.5% year on year to 3.208 trillion won.
Net profit declined 39.8% to 73.4 billion won.
Compared with the previous quarter, operating profit rose 4.6%, while revenue fell 1.3%.
The company said revenue could recover as housing projects it has sold begin to progress.
- Who
- GS Engineering & Construction.
- What
- Its third-quarter operating profit fell 35.7% year on year to 95.5 billion won.
- When
- The results were announced on October 30, 2026.
- Where
- Not stated
- Why
- The company said housing and construction revenue fell amid a weak property market and reduced housing supply through the previous year.
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- Operating profit
- 95.5 billion won; down 35.7% year on year
- Revenue
- 3.208 trillion won; down 14.5% year on year
- Net profit
- 73.4 billion won; down 39.8% year on year
- Quarter-on-quarter operating profit
- Up 4.6%
- New orders
- 3.9584 trillion won in the third quarter
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