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| Title | [News] Taegu City Gas Co., Ltd Reporting 280% Growth | 2005.08.09 |
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FROM: Daesung Group's Taegu City Gas Co., Ltd reported on the 8th a growth of 180% in revenues in relation to last year. Following the closing of accounts early in 2005, sales were reported at 269.4 billion won, increased 116% from last year, and ordinary profits and net profits were reported at 35.7 billion won and 25.8 billion won, respectively, and achieved the total of 280% in relation to last years. Taegu City Gas Co., Ltd's performance can be attributed to, not only the stable city gas supply business, but also to the diversification of the subsidiary businesses and their increased performance. Among Daesung Group's subsidiaries, Taegu City Gas Co., Ltd holds a 97% stake in YEN Co., Ltd and a 51% stake in BiNEXT Capital Co., Ltd, whose investments have filed IPO's on the KOSDAQ and the LSE, and has therefore seen steadily rising stock prices. Furthermore, another of Daesung Group's subsidiaries, Daesung China Co., Ltd's children's clothing brand 'OurQ' has seen high sales in China, and expects to generate profit within a year of first launching. "Last month's announcement of the stock split acted as a catalyst to increase stock prices. I believe Taegu City Gas is benefiting from the increase in global business involvement, the increased performance of the subsidiary companies, and Taegu City Gas Co., Ltd being typically undervalued, due to the stability of the city gas industry, and the anticipation of the increase in share prices due to this," said President Jung Choong Yung, regarding Taegu City Gas Co., Ltd's recent performance. "Recently, with our stable energy business forming a basis for investment, we are investing in the development of new and renewable energy sources, the cultural industry, the IT industry and other such industries which will become the driving forces of the 21st century," said Daesung Group Chairman David Younghoon Kim. "I believe that the rising share prices of Taegu City Gas Co., Ltd signifies investors' confidence in Daesung's diversification into, and investment in the development of cultural and other industries." Recently Daesung has actively invested in the cultural industry through films such as Welcome to Dongmakgol, in the gaming industry through Lizard Interactive, and US mobile phone gaming through GenPlay Games Inc. |
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| NO | Title | Date |
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| 17 | Daesung Group will be entering into... | 2005.10.07 |
| 16 | Daesung Group Designated as the Pre... | 2005.10.06 |
| 15 | [News] Chairman of Daesung Group Da... | 2005.09.08 |
| 14 | [News] Taegu City Gas Co., Ltd Repo... | 2005.08.09 |
| 13 | [WOW TV] [Meeting the CEO] Becoming... | 2005.07.27 |
