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GS Holdings Q2 net profit rises 34.1% on year

GS Holdings reported a second-quarter net profit of 220.6 billion South Korean won, up 34.1% from the 164.5 billion won reported during the same period in 2017.

Total revenue for the quarter amounted to 4.581 trillion won, rising 18.8% from the 3.856 trillion won noted during the corresponding period in 2017. Operating profit for the quarter was pegged at 557.2 billion won, climbing 42.2% from the 391.9 billion won posted on the same quarter a year ago.

Making up of the bulk of the firm's revenue was its GS Energy subsidiary. Net profit for the quarter was pegged at 122.8 billion won, up 79% from the 68.6 billion won noted a year ago.

The GS Retail business noted a 11.2% increase with 45.8 billion won posted for the quarter compared to the 41.2 billion won reported on the same quarter a year ago. The firm's GS E&R business posted a second-quarter net profit of 6.7 billion won, up 139.3% from the 2.8 billion won from the second quarter of 2017. In addition, the GS Global segment's second-quarter net income rose 15.7% with 8.1 billion won reported compared to the 7.1 billion won seen during the same period in 2017.

The GS EPS business reported a second-quarter net income of 15.9 billion won, down 53.4% from the 34.1 billion won noted during the corresponding quarter in 2017.

As of Aug. 10, US$1 was equivalent to 1,128.92 South Korean won.