SEOUL – GS Holdings, a major conglomerate in South Korea, has reported a significant increase in its net profit for the third quarter of the year. The company’s financial performance indicates substantial growth compared to the same period last year.
According to Yonhap News Agency, the company’s net profit for the third quarter stood at 700 billion won (US$536.6 million), marking a 24.9 percent increase from the previous year. However, the company noted in a regulatory filing that its operating profit for the quarter was 1.21 trillion won, a decrease from 1.35 trillion won a year ago. Additionally, GS Holdings’ sales fell by 12.4 percent, totaling 6.48 trillion won.
These financial results provide insights into the company’s current economic status, reflecting both the gains in net profit and the challenges in operating profit and sales.