SEOUL — GS Engineering and Construction Corp. disclosed a significant decline in its third-quarter net profit on Monday, registering at 11.7 billion won (US$8.7 million), which is down 92.7 percent compared to the same period last year.
According to Yonhap News Agency, the firm also reported an operating profit of 60.2 billion won for the quarter, compared with 125.1 billion won a year ago. Sales for the company showed a 5.2 percent increase, amounting to 3.1 trillion won. The reported operating profit came in 45.5 percent below the average estimate, according to a survey conducted by Yonhap Infomax, the financial data subsidiary of Yonhap News Agency. The net profit estimate was not provided in the survey.