GS Engineering & Construction shifts to loss in Q2

GS Engineering & Construction-Q2 earnings

GS Engineering & Construction shifts to loss in Q2

SEOUL, July 26 (Yonhap) -- GS Engineering & Construction Corp. on Wednesday reported its second-quarter net loss of 279.7 billion won (US$218.8 million), turning from a profit of 179.6 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 413.9 billion won for the April-June period, compared with a profit of 164.4 billion won a year ago. Revenue rose 14.7 percent to 3.49 trillion won.

The loss was 63.6 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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