Hyundai GF Holdings Q1 Operating Profit Jumps 24% to 117.6 Billion Won

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By Kim Kyung-taek
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null - Seoul Economic Daily Finance News from South Korea

Hyundai GF Holdings (005440.KS) reported first-quarter operating profit of 117.6 billion won ($86 million) on a consolidated basis, up 23.9% from a year earlier, the company said in a regulatory filing Thursday.

Revenue rose 0.6% year-on-year to 2.08 trillion won.

The earnings growth was driven by improved profitability at major subsidiaries.

"Both revenue and operating profit increased on strong performance at key affiliates including Hyundai Greenfood and Hyundai Home Shopping," a Hyundai GF Holdings official said. "We expect the growth momentum at subsidiaries such as department stores and home shopping to continue in the second quarter."

Original reporting by Kim Kyung-taek for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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