HDC Hyundai Development Company reported on the 24th that its consolidated operating profit for the first quarter (January to March) was provisionally recorded at 53.999 billion won. This is an increase of 29.8% compared to the same period last year.
The net profit for the first quarter was 51.486 billion won, up 77.8% from a year earlier. Sales amounted to 905.748 billion won, a decrease of 5.2%. The operating profit margin is 6%.
A representative of HDC Hyundai Development Company said, "Sales increased due to the supply of 'Seoul Won I-Park' in Nowon District, Seoul, and profits in the proprietary dwellings sector grew as a result of the completion of 'Suwon I-Park City Complex 10.'" He added, "This year, the proportion of our proprietary dwellings business continues to increase, and an improvement in annual profitability is expected, with performance growth anticipated in the medium to long term due to the promotion of large-scale complex development projects."