SEOUL - Grand Korea Leisure Co. (GKL) announced a significant financial turnaround for the year 2023, posting a net income of 43.8 billion won ($32.8 million), moving from a loss the prior year.
According to Yonhap News Agency, GKL's operating profit reached 51 billion won, compared to a loss of 13.9 billion won in the previous year. The annual revenue witnessed a substantial increase of 51.3 percent, totaling 396.7 billion won. This marks a notable recovery for the company, which had faced financial challenges in the preceding year.
SEOUL - GS Holdings has announced a significant decrease in its net income for the year 2023, marking a downturn in its financial performance.According to Yonhap News Agency, the net profit fell by 36.2 percent to 1.58 trillion won ($1.2 billion) from the previous year. Additionally, the operating income saw a decrease of 27.4 percent, amounting to 3.71 trillion won, with annual sales dropping 9.1 percent to 25.97 trillion won. This downturn reflects challenges faced by the company over the past year.
SEOUL - GS Holdings reported a significant drop in its fourth-quarter net income, which fell short of market forecasts.According to Yonhap News Agency, the net profit decreased by 46.9 percent to 126.3 billion won ($94.5 million), compared to the same period a year earlier. The operating income and revenue also experienced declines, with operating income reducing by 22.5 percent to 695.3 billion won and revenue falling 7.7 percent to 6.55 trillion won. Analysts' average net profit expectation was 276.9 billion won, highlighting a considerable shortfall in the company's performance.