Doosan Construction reported a 35.6% increase in operating profit for the first half of the year, despite a decline in revenue.
On August 14, Doosan Construction announced that its consolidated operating profit for the first half of the year reached 72.7 billion won. Revenue fell to 764.5 billion won, a 12% decrease compared to the same period last year, while net profit rose by 47.1% to 52.5 billion won.
The cost ratio for the first half was 84.8%, down 4.7 percentage points from the previous year. Consequently, the operating profit margin increased from 6.2% last year to 9.5% this year, a rise of 3.3 percentage points.
Doosan Construction explained that the risks associated with its housing projects have decreased as most sales in key regional sites have been completed. The company noted that the move-in process for completed projects is now underway, leading to improvements in its financial outlook.
In terms of new contracts, the company expanded its operations in the metropolitan area, particularly in Seoul, and selectively targeted major regional projects. This strategy has resulted in securing construction rights for urban redevelopment projects worth approximately 2.6 trillion won.
A representative from Doosan Construction stated, "The results reflect the success of our profitability-focused selective bidding strategy, which is now translating into performance as major projects progress. We aim to strengthen our business foundation in Seoul and the metropolitan area while diversifying our portfolio through private urban redevelopment and public housing projects to ensure stable growth."
Additionally, Doosan Construction opened a model house for the 'Doosan We’ve the Zenith Bucheon' redevelopment project in the Sosa Bon 1-1 district of Bucheon, which it is pursuing in a consortium with Ssangyong Construction, and has begun full-scale sales.
* This article has been translated by AI.
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