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Hyundai Engineering's Smart management bears fruit in 3rd quarter for Billion Dollars

Hyundai Engineering & Construction’s performance went up in this 3rd quarter as the sales and operating profit, tentatively tallied on October 22, 2010 rose to 2.2741 trillion won and 176.1 billion won respectively, remaining on an uptrend in the second half of this year. Notably, 3rd-quarter operating profit was significantly up by 40.4 percent compared with the year-earlier quarter, which clearly indicates how well the company manages risks amid global financial crisis.

New orders in the 3rd quarter also increased to 5.4945 trillion won, and total new orders for this year reached 16.1888 trillion own so far. The figure was a 33 % increase from the same period a year earlier and passed the last year’s orders of 15.6996 trillion own. The company expects that given projects currently under construction, they can achieve their outlook for orders for the entire year of more than 20 trillion won.

Stronger sales were thanks mainly to the profit-oriented strategies the company has implemented since CEO Kim Joong-kyum took office to win contracts and make inroads into new markets. Hyundai Engineering & Construction could enjoy a five-year order backlog of about 55.7625 trillion won, expecting its performance to remain stable, the company’s official said.


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